Market Chatter: SoftBank Group Doubles Down on OpenAI as Rivals Close in

MT Newswires Live12-04

SoftBank Group (TYO:9984) is focused on supporting OpenAI even as rivals including Google and Anthropic challenge the U.S. AI developer's lead, Nikkei reported Thursday, citing CFO Yoshimitsu Goto.

The company aims to raise its OpenAI investment to $34.7 billion by year-end, making it the largest single shareholder with an 11% stake. The platform's flagship product, ChatGPT, counts 800 million active users, according to the report.

SoftBank Group said it is exploring raising capital using OpenAI shares as collateral, similar to its 2022 fundraising that used Arm shares before the semiconductor design company listed. The group raised 1 trillion yen then, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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