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SoftBank to invest $500 million in OpenAI: report

Economic Times · 8m

SoftBank's Vision Fund is set to invest $500 million in OpenAI's latest funding round, as per a report from The Information. OpenAI, an artificial intelligence company, is raising $6.5 billion in the form of convertible notes. This funding round values the startup at $150 billion, with Apple reportedly stepping out of the investment. However, the valuation is subject to certain conditions, including OpenAI's plans to restructure its business into a for-profit corporation. This marks SoftBank's first investment in OpenAI.