Written by Muhammad Ayman Monday, September 18, 2023 06:00 PM
SoftBank is considering investing in… OpenAIThe Financial Times reported that the AI startup is one of a number of options being considered by the Japanese telecom giant, and the potential investment comes after Chairman Son told SoftBank shareholders that he “talks with ChatGPT every day,” in comments reported by Reuters.
The SoftBank founder said his late-night conversations with a chatbot inspired him to start investing aggressively in tech stocks again, and one long brainstorming session ended with ChatGPT praising his ideas as “possible and wonderful,” he said in comments published by The Wall Street Journal. , according to businessinsider.
Sun also met with OpenAI CEO Sam Altman in recent months and told his investors Softbank in June that he talks to the head of an AI startup “almost every day.”
The company’s $100 billion Vision Fund, founded in 2017, has become famous for targeting high-growth companies with an eccentric founder.
The potential investment in artificial intelligence comes after a difficult few years for SoftBank’s investment arm.
The Vision Fund cut spending and posted a record $32 billion loss earlier this year after several high-profile missteps — including investments in the likes of WeWork and FTX — with the company cutting its $100 million stake in the latter to zero. After that, the stock market collapsed. Cryptocurrencies and turned into severe bankruptcy.
Despite this, Son has shown a willingness to go all-in on AI, telling investors in June that the company was ready to return to “attack mode.”
The attack is likely to be enabled by the massive public launch of Softbank’s British chipmaker ARM, which received a $54.5 billion valuation in an initial public offering on Thursday, boosting the company’s investment.
2023-09-18 15:00:00
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