Softbank adds another $.5 billion to OpenAI investment

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Softbank adds another $.5 billion to OpenAI investment

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Softbank adds another $.5 billion to OpenAI investment

//stocks-investing.news-articles.net/content/202 .. adds-another-5-billion-to-openai-investment.html

Published in Stocks and Investing on Wednesday, November 27th 2024 at 17:01 GMT by Thomas Matters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

OpenAI is allowing its current employees to sell shares in a tender offer to Softbank.

SoftBank Group has reportedly invested $1 billion in OpenAI, the company behind the popular AI chatbot ChatGPT, as part of a broader strategy to expand its AI capabilities. This investment was revealed through a source familiar with the matter, although neither SoftBank nor OpenAI have officially confirmed the deal. The investment comes at a time when SoftBank is looking to recover from previous financial setbacks, including losses from its Vision Fund, and aims to leverage AI technology to enhance its business operations and potentially develop new AI-driven products or services. This move aligns with the growing trend of tech giants and investors betting big on AI, with OpenAI also securing significant investments from other major players like Microsoft.

Read the Full Shacknews Article at [ https://www.shacknews.com/article/142369/softbank-openai-1-billion-investment ]