SoftBank approves remaining $22.5 billion of OpenAI investment, the Information reports

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Softbank has approved a second installment of $22.5 billion to complete its $30 billion investment in OpenAI, tech news website the Information reported on Saturday, October 25. 

 

The Japanese investment group’s board has approved the installment as long as the artificial intelligence startup completes a corporate restructuring that would pave the way for an eventual public offering, the report said, citing a person with knowledge of the decision.

 

Reuters could not immediately verify the report. SoftBank and OpenAI did not immediately respond to a…



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SoftBank approves remaining $22.5 billion of OpenAI investment, the Information reports


Softbank has approved a second installment of $22.5 billion to complete its $30 billion investment in OpenAI, tech news website the Information reported on Saturday, October 25. 

 

The Japanese investment group’s board has approved the installment as long as the artificial intelligence startup completes a corporate restructuring that would pave the way for an eventual public offering, the report said, citing a person with knowledge of the decision.

 

Reuters could not immediately verify the report. SoftBank and OpenAI did not immediately respond to a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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