Japan's SoftBank Vision Fund is set to invest USD 500 million in OpenAI's latest funding round, which aims to raise USD 6.5 billion through convertible notes, as per a The Information report.
This funding round values the AI company, known for its groundbreaking ChatGPT technology, at approximately USD 150 billion, contingent on the successful restructuring of its corporate framework to remove existing profit caps for investors.
The investment represents SoftBank's inaugural financial commitment to OpenAI, which is led by CEO Sam Altman. As the AI landscape continues to evolve, this investment highlights the growing interest in AI technologies among major global investors, including those from India, where AI is increasingly recognized for its transformative potential across various sectors.
Notably, reports indicate that Apple has opted out of participating in this substantial funding round. This shift comes as OpenAI explores plans to transition its structure from a nonprofit model to a for-profit corporation, aiming to enhance its operational flexibility and attract further investment.
(Inputs from Reuters)
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