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Post: SoftBank to invest $500m in OpenAI as Apple backs out of funding round: report

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SoftBank to invest $500m in OpenAI as Apple backs out of funding round: report
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Digital render of OpenAI’s logo in pink in front of a pink and green background The information reports that the Masayoshi Son-led firm will back the ChatGPT and o1 developer as it looks to raise $6.5 billion in its latest funding round.

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This would mark SoftBank’s first investment in OpenAI, having already backed other AI startups including AI search firm Perplexity and Skild AI, which is designing AI models to power general-purpose robots.

SoftBank’s reported backing of OpenAI would bring together two familiar faces in Sam Altman and Son. Earlier reports this year suggested that the pair were looking to team up to launch an AI chip venture to take on Nvidia, but nothing has come to fruition yet.

The Japanese company owns two British AI chipmakers: Arm Holdings, which it unsuccessfully tried to sell to Nvidia, and Graphcore, which it acquired in July .

Capacity has reached out to SoftBank for comment.

One company that will not be investing in OpenAI is Apple. The iPhone maker was reportedly joining Nvidia to back up the AI startup .

However, the Wall Street Journal reports Apple is set to pull out of the funding round which could be announced within the next few weeks.Apple’s involvement would have added to its partnership with OpenAI, with its AI models powering the new Apple Intelligence feature in its iPhones and other devices.OpenAI values itself at $150 billion , with Thrive Capital and Microsoft set to back the startup in the latest funding round.That valuation was set before reports emerged that OpenAI is working to drop its nonprofit board in favour of a switch to a for-profit benefit corporation.Reports emerged last week that would see Altman receive equity in the startup for the first time.Reports of restructuring and raises have emerged as OpenAI grapples with a leadership shakeup following the unexpected departure of long-serving chief technology officer Mira Murti . Murti left the company last week to "create the time and space to do my own exploration." RELATED STORIES OpenAI […]

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