Wed, November 27, 2024

[ Wed, Nov 27th 2024 ]: Thomas Matters

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[ Wed, Nov 27th 2024 ]: Thomas Matters

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Softbank adds another $.5 billion to OpenAI investment

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 ]