SoftBank completes final phase of $30 billion investment in OpenAI
SoftBank Group has finalized its $30 billion investment in OpenAI, completing the final phase of its commitment to the ChatGPT creator, according to Reuters on October 1. Earlier this year, OpenAI had amassed $122 billion in commitments, valuing the San Francisco-based company at $852 billion. The Japanese investment firm, led by founder Masayoshi Son, had pledged capital through three tranches of $10 billion each via its Vision Fund 2.
SoftBank recently raised $11.1 billion in the largest high-yield corporate bond sale globally to finance its substantial bet on OpenAI. The conglomerate has become a leading backer of OpenAI under Son's ambition to position the Japanese firm as a top investor in artificial intelligence. SoftBank's total investment in OpenAI now totals $64.6 billion, granting it a 13% stake in the AI lab.
The company has also terminated the remaining $10 billion of undrawn capacity under its $40 billion bridge loan obtained earlier this year.
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