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SoftBank Makes Additional $10 Billion Investment in OpenAI, Raising Stake to 13%
Summary
- SoftBank said it made an additional $10 billion investment in OpenAI.
- The company said the investment brings its cumulative investment to $64.6 billion and its ownership stake to about 13%.
- SoftBank said it canceled a $10 billion bridge loan commitment and fully repaid the related borrowings.
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SoftBank has made an additional $10 billion investment in OpenAI, the U.S. artificial intelligence startup.
SoftBank Group said Oct. 1 that it executed the follow-on investment through SoftBank Vision Fund 2. The company said the latest deal marks its third follow-on investment in OpenAI and completes the previously announced $30 billion follow-on investment.
The latest investment brings SoftBank's cumulative investment in OpenAI to $64.6 billion. Its ownership stake now stands at about 13%.
SoftBank said the third follow-on investment was funded with proceeds from foreign-currency-denominated senior notes issued late last month.
The company also said on Sept. 30 that it canceled the remaining undrawn $10 billion portion of a $40 billion bridge loan for OpenAI. SoftBank said all borrowings tied to the bridge loan have now been repaid following that cancellation and the early repayment announced last month.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul