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SoftBank's Vision Fund to Invest $500 Million in OpenAI

deepnewz

deepnewz · 11m ago

SoftBank's Vision Fund to Invest $500 Million in OpenAI

SoftBank's Vision Fund is set to invest $500 million in OpenAI, valuing the company at $150 billion. OpenAI, known for creating ChatGPT, is in the process of raising $6.5 billion in total for its latest funding round. This investment from SoftBank marks a significant milestone for the company, as it is the first time they have received funding from the Japanese telecom company. The investment is led by Sam Altman, the CEO of OpenAI.

Related News

SoftBank to invest $500 million in OpenAI: report

Economic Times

Economic Times · 11m ago

SoftBank to invest $500 million in OpenAI: report

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.

Cash-rich SoftBank eyes more AI bets for strategic growth

YourStory

YourStory · 9m ago

Cash-rich SoftBank eyes more AI bets for strategic growth

SoftBank Group is intensifying its investments in artificial intelligence (AI) as it aims to leverage its healthy financial standing. The company's Vision Fund 2 has committed $500 million to OpenAI, one of its strategically important investments in the AI sector. SoftBank's renewed focus on long-term, strategic growth has led it to selectively add AI-driven companies to its portfolio. The company is particularly interested in transformative companies with product-market fit, strong unit economics, and consistent execution. SoftBank's Q2 earnings report also revealed positive returns from IPOs of portfolio companies, such as Ola Electric and FirstCry.

SoftBank books surprise loss of $2.4 billion in third quarter

Economic Times

Economic Times · 6m ago

SoftBank books surprise loss of $2.4 billion in third quarter

Japanese tech investor SoftBank reported a surprising $2.4 billion net loss in Q3 due to valuation drops in Vision Fund investments, including Coupang, Didi Global, and AutoStore Holdings. This raises concerns about funding its planned $25-$40 billion investment in OpenAI and a $15 billion commitment to a U.S. AI data center venture. SoftBank's cash reserves decreased significantly, and the Vision Fund unit ended a profit streak with a 352.7 billion yen loss.

SoftBank swings to $7.7B profit in September quarter

YourStory

YourStory · 9m ago

SoftBank swings to $7.7B profit in September quarter

SoftBank Group reported a profit of 1.2 trillion yen ($7.98 billion) in the second quarter of FY25, driven by successful IPOs of its portfolio companies. The company made investment gains of 608 billion yen ($3.96 million), marking its fourth consecutive profitable quarter. SoftBank's Vision Funds sold investments worth $1.85 billion, with notable exits from companies like SenseTime and Paytm. SoftBank-backed companies like FirstCry, Ola Electric, and Unicommerce had strong market debuts but saw their stock prices fall afterwards. SoftBank is also exploring AI investments, including a potential $500 million investment in OpenAI.

SoftBank Vision Fund records $544-mn loss on exit from Paytm

Money Control

Money Control · 1y ago

SoftBank Vision Fund records $544-mn loss on exit from Paytm

SoftBank's Vision Fund 1 recorded a gross loss of $544 million on its $1.6-billion investment in Paytm, which it exited in the June quarter, Moneycontrol reported. The fund booked a $394-million gross gain on an investment cost of $199 million in Policybazaar during exit. It has gained $285 million as of June on its $397-million investment in Delhivery.

Exclusive: SoftBank eyeing buyout deals in India to push AI-led IT, BPO operations

Economic Times

Economic Times · 2m ago

Exclusive: SoftBank eyeing buyout deals in India to push AI-led IT, BPO operations

SoftBank is exploring buyout deals in India, transitioning from a growth investor to a direct acquirer. It's interested in acquiring business process outsourcing firms to integrate AI capabilities, aiming to transform traditional BPOs into tech-enhanced service providers. SoftBank's strategy includes the Stargate Project, a $500 billion initiative to build AI infrastructure, and developing Cristal Intelligence with OpenAI. This push aligns with its plan to invest in AI infrastructure and data centers in India.

SoftBank back at deal counter with Icertis deal talks

Economic Times

Economic Times · 1y ago

SoftBank back at deal counter with Icertis deal talks

SoftBank, the renowned technology investor, is reportedly considering new deals in India after focusing on exits last year. The Tokyo-based firm is in early talks to increase its investment in software firm Icertis, which is seeking $150 million in a new funding round. Other existing investors may also participate. Additionally, SoftBank's Vision Fund is looking to invest in e-commerce firm Meesho as part of a broader funding round. SoftBank is actively reviewing potential investments after a period of inactivity. The valuation and pricing of the deals are still under discussion.

SoftBank fund sells more of its FirstCry stake ahead of IPO

Economic Times

Economic Times · 1y ago

SoftBank fund sells more of its FirstCry stake ahead of IPO

SoftBank's Vision Fund has sold more of its stake in FirstCry, an Indian parenting platform, ahead of its IPO. The move suggests that SoftBank is looking to cash out its investments in the company. FirstCry is expected to go public in the coming months, and this stake sale gives an indication of SoftBank's strategy with regards to its portfolio companies.

Whatfix Inches Closer To Unicorn Status With $125 Mn Funding From Warburg Pincus, Others

Inc42 · 11m ago

Whatfix Inches Closer To Unicorn Status With $125 Mn Funding From Warburg Pincus, Others

The latest funding round for Whatfix, a startup, has raised its valuation to nearly $900 million, a 50% increase from its previous valuation of $600 million. The funding came from investors Warburg Pincus, who invested $100 million, and SoftBank's Vision Fund 2, who invested $25 million. Whatfix plans to use the funding to expand into new regions, such as Southeast Asia and the Middle East, and develop new products.

SoftBank sells off Vision Fund assets as Son pivots to AI, chips

Economic Times

Economic Times · 1y ago

SoftBank sells off Vision Fund assets as Son pivots to AI, chips

SoftBank's Vision Fund has been selling off or writing down billions of dollars' worth of its publicly-listed holdings in recent years, reflecting founder Masayoshi Son's shift away from venture capital deals towards strategic investments in semiconductors and AI. The fund has seen its US-listed portfolio shrink by nearly $29 billion since the end of 2021, with stake sales in companies like Coupang, DoorDash, and Grab. SoftBank's equity capital market team has played a key role in monetizing stakes with minimal market disruption. Son's new obsessions include bankrolling a $100 billion chip venture and investing in companies strategically important to SoftBank.

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