40 billion dollar investment for OpenAI! SoftBank is expanding its investment in the artificial intelligence sector

Japan's second-largest telecommunications company, SoftBank, is on the verge of completing a 40 billion dollar primary investment in OpenAI, the company behind the artificial intelligence ChatGPT, at a valuation of 260 billion dollars.

According to CNBC, SoftBank plans to implement the funding, which will provide a post-money valuation of 300 billion dollars for OpenAI, within the next 12 to 24 months.

SoftBank may be able to finance 10 billion dollars of this fund through syndication.

SOFTBANK SURPASSES MICROSOFT

The new investment will allow SoftBank to surpass Microsoft as the largest backer in the field of artificial intelligence.

300 BILLION DOLLAR VALUATION

OpenAI was most recently valued at 157 billion dollars by private investors in October. Initially, a valuation estimate of 340 billion dollars had been made for OpenAI, but a source close to the matter later stated to CNBC that the valuation would be around 300 billion dollars.

WHAT IS THE STARGATE PROJECT?

According to sources, a portion of the fund is expected to be spent on OpenAI's Stargate project. Stargate is a joint venture between SoftBank, OpenAI, and Oracle, which was announced by US President Donald Trump in January. With this project, it is envisioned that billions of dollars will be invested in the United States' artificial intelligence infrastructure.

News Source: 12punto