OpenAI received a $40 billion funding round through SoftBank Group Corp led by Masayoshi Son’s SoftBank Group Corp which raised its value to $300 billion. The biggest AI industry funding in history enables OpenAI to speed up its development of Artificial General Intelligence (AGI).
OpenAI plans to use the new capital to develop its AI research and increase computing capacity and improve tools for its 500 million weekly ChatGPT users. SoftBank will provide $7.5 billion at the start and plans to invest an additional $22.5 billion during the next five years. The investment of $2.5 billion from Microsoft and Coatue Management and Altimeter Capital and Thrive Capital will be followed by their additional $7.5 billion contribution.
OpenAI expressed its excitement about collaborating with SoftBank because the company demonstrates expertise in expanding transformative technologies. The financial backing from SoftBank will enable scientists to discover new knowledge while developing personalized educational tools and human creative capabilities leading to AGI benefits for humanity.
The investment positions OpenAI to direct the AI revolution by advancing revolutionary technology that will transform global industries.
