Japanese investment behemoth SoftBank is doubling down on OpenAI but only if the ChatGPT creator gets its corporate structure right.
SoftBank has reportedly greenlit a second $22.5 billion installment to complete its planned $30 billion investment in OpenAI, Reuters reports.
The deal hinges on the AI company finalizing a corporate overhaul that would clear the path for a potential initial public offering (IPO), says a person familiar with the matter.
The board approval follows SoftBank’s initial $10 billion commitment earlier this year. The remaining funds, set aside in December, are contingent on OpenAI’s transition to a for-profit structure before year-end, a change that would formalize investor participation and valuation transparency.
The $22.5 billion infusion would also top off a massive $41 billion funding round first announced in April. The final approval would come once the restructuring is complete.
Neither SoftBank nor OpenAI immediately commented on the report, and Reuters said it could not independently verify the details.
The report comes after SoftBank reportedly turned to the overseas bond market to raise $2.9 billion to support its AI push.
In April, SoftBank said OpenAI is its most important partner in its mission to realize Artificial Super Intelligence (ASI) for the benefit of humanity.
“The advancement of OpenAI’s AI models is key to achieving AGI (Artificial General Intelligence) and ASI, and massive computing power is essential. To that end, SBG has announced the ‘Stargate Project’ together with OpenAI on January 21, 2025, to build dedicated AI infrastructure for OpenAI in the United States.”
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