The investment giant’s board approved the payment on the condition that the artificial intelligence company completes a corporate restructuring, a move expected to set the stage for a future public listing, The Information revealed, citing a source familiar to the matter.
However, SoftBank stated if the AI giant’s restructuring does not go through, the total investment would be reduced to $20 billion.
According to the report, the funding would complete a $41 billion financing round first announced in April.
Earlier this year, SoftBank had agreed to provide OpenAI with $10 billion in April and an additional $30 billion in December, provided the company shifts to a for-profit model by year’s end.
Earlier this year OpenAI said in a statement: “In a statement released yesterday, OpenAI commented, “Today we’re announcing new funding—$40 billion at a $300 billion post-money valuation, which enables us to push the frontiers of AI research even further, scale our compute infrastructure, and deliver increasingly powerful tools for the 500 million people who use ChatGPT every week.
“We’re excited to be working in partnership with SoftBank Group – few companies understand how to scale transformative technology like they do. Their support will help us continue building AI systems that drive scientific discovery, enable personalised education, enhance human creativity, and pave the way toward AGI that benefits all of humanity.”
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