Japan’s telecommunications company, SoftBank, through its Vision Fund, is set to invest $500 million in the latest funding round of artificial intelligence startup OpenAI. The news comes via sources familiar with the deal, according to a report by Reuters.
Neither SoftBank nor OpenAI have provided immediate comments regarding the investment.
Recent reports indicate that Apple has withdrawn from participating in this funding round. Prior to SoftBank’s investment, OpenAI’s valuation had already surpassed $150 billion.
OpenAI, led by CEO Sam Altman, is currently transitioning its operations from a non-profit model to a for-profit one, and this will mark SoftBank’s first investment in the company.
