Add as a preferred source on GoogleSoftBank Discusses Investing Hundreds of Millions in OpenAI Round
OpenAI is seeking up to $20 billion at a $1.25 trillion valuation, below its earlier target of as much as $30 billion.
SoftBank is weighing an investment of several hundred million dollars in OpenAI’s latest financing, a smaller potential contribution than its past commitments as the AI company seeks up to $20 billion at a $1.25 trillion valuation.
OpenAI is seeking the funds in two parts. In September, the company had targeted as much as $30 billion at a valuation of up to $1.5 trillion. Its current fundraising target and valuation are lower.
An investor group from the United Arab Emirates that includes MGX is expected to provide the largest commitment, in the single-digit billions. Coatue has also discussed an investment similar in size to SoftBank’s potential contribution.
SoftBank has invested nearly $65 billion in OpenAI and holds an estimated 13% stake. The companies are also leading Stargate, a U.S. AI data center project. SoftBank is responsible for financing the project, while OpenAI oversees its operations.
The latest talks add detail to TokenPost’s earlier coverage of SoftBank and MGX discussing participation in OpenAI’s financing round. OpenAI expects to complete the broader fundraising in the coming weeks.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.