SoftBank to invest $500 million in OpenAI: report

SOFTBANK Group’s Vision Fund plans to invest $500 million in OpenAI as part of a larger financing round, it said on Monday (September 30), citing a source familiar with the deal.

OpenAI is in talks to raise $6.5 billion from investors at a valuation of $150 billion, as Bloomberg previously reported. The financing round is to be led by Thrive Capital with the participation of Microsoft, the company’s largest investor, and other sponsors.

Representatives of OpenAI and SoftBank declined to comment.

The funding round would solidify OpenAI’s position as one of the world’s most valuable startups, but it also comes at a time of uncertainty for the storied artificial intelligence company. Mira Murati, OpenAI’s chief technology officer and a key figure at the startup, announced last week that she plans to leave, triggering an exodus of senior managers this year. As Bloomberg previously reported, OpenAI is also considering restructuring to become a for-profit company.

SoftBank has not previously invested in OpenAI, but the company has backed one of its rivals. In June, SoftBank’s Vision Fund invested in Perplexity AI, an artificial intelligence search startup, for $3 billion. BLOOMBERG