SoftBank commits to joint venture with OpenAI, will spend $3

Key Points
  • SoftBank has committed to spending $3 billion per year for itself and its subsidiaries to use OpenAI’s tech, according to a joint announcement on Monday.
  • The two also announced a new joint venture, billed as “SB OpenAI Japan,” which will market OpenAI’s enterprise tech exclusively to major companies in Japan.
  • The news comes days after CNBC confirmed that OpenAI is in talks to raise up to $40 billion in a funding round led by Masayoshi Son’s SoftBank at a valuation of up to $340 billion.
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