SoftBank completes final phase of $30 billion investment in OpenAI

Oct 1 (Reuters) – SoftBank Group said on Thursday it has completed its $30 billion investment in OpenAI as part of its commitment to the ChatGPT maker’s last fundraising round.

Here are some other details:

• Earlier this year, OpenAI had secured $122 billion in commitments that valued the Sam Altman-led company at $852 billion. Amazon, Nvidia and SoftBank had anchored the fundraising.

• The Japanese investment conglomerate, led by founder Masayoshi Son, previously agreed to invest the capital through three tranches of $10 billion each through its Vision Fund 2.

• SoftBank raised $11.1 billion last month in the largest high-yield corporate bond sale ​globally to fund its mammoth bet on OpenAI.

• It has become one of the ‌world’s biggest ⁠backers of OpenAI under founder Son’s push to make the Japanese conglomerate a dominant investor in AI.

• SoftBank’s cumulative investment in OpenAI stands at $64.6 billion, giving it a 13% stake in the AI lab.

• It has canceled the remaining $10 billion of undrawn capacity under its $40 billion bridge loan secured earlier this year.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)

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