OpenAI, a U.S.-based AI research company, has raised $40 billion in funding led by Softbank, bringing its value to $300 billion. The company said this funding will help advance AI research, expand its computing infrastructure, and create more powerful tools for the 500 million weekly ChatGPT users.
OpenAI said, “We’re excited to be working in partnership with SoftBank Group — few companies understand how to scale transformative technology like they do, Their support will help us continue building AI systems that drive scientific discovery, enable personalized education, enhance human creativity, and pave the way toward AGI that benefits all of humanity,”.
Read also – Equinix has Issued its First Green Bonds in Singapore, Raising $375Million to Support Sustainability Efforts
In a separate statement, Softbank said it had made an agreement with OpenAI to invest up to $40 billion. Softbank plans to share $10 billion of this investment with other co-investors.
Softbank also mentioned that its financial policies, including loan-to-value and cash position, will remain the same. It believes that AI is now the next phase of the “information revolution,” following personal computers, the internet, broadband, and smartphones.
About OpenAI
OpenAI is focused on making sure that AI benefits everyone. The company believes AI should be developed safely and with human needs in mind, prioritizing these goals over profit.
