SoftBank concedes Stargate Project with OpenAI needs more time

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SoftBank Group Corp. said it’s taking longer than anticipated to get Stargate off the ground, conceding for the first time that the $500 billion artificial intelligence tie-up in the US with OpenAI is bogging down.

The Japanese company is trying to forge a consensus with partners including Oracle Corp. and Abu Dhabi’s MGX, Chief Financial Officer Yoshimitsu Goto said during an earnings briefing. SoftBank expects to begin “concrete” negotiations for its first Stargate datacenter site soon, Goto said.

“We need to take our time to prepare a…



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SoftBank concedes Stargate Project with OpenAI needs more time



SoftBank Group Corp. said it’s taking longer than anticipated to get Stargate off the ground, conceding for the first time that the $500 billion artificial intelligence tie-up in the US with OpenAI is bogging down.

The Japanese company is trying to forge a consensus with partners including Oracle Corp. and Abu Dhabi’s MGX, Chief Financial Officer Yoshimitsu Goto said during an earnings briefing. SoftBank expects to begin “concrete” negotiations for its first Stargate datacenter site soon, Goto said.

“We need to take our time to prepare 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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