SoftBank finalizes $30 billion funding round for OpenAI

SoftBank Group disclosed that it has now fulfilled the final $10 billion tranche of its $30 billion pledge to OpenAI, completing the AI firm’s most recent fundraising round. This brings SoftBank’s total ownership in OpenAI to roughly 13 percent, with cumulative investments reaching $64.6 billion. The round, which valued OpenAI at $852 billion, also included anchor investors Amazon and Nvidia and secured $122 billion in commitments overall.

To fund its share, SoftBank raised $11.1 billion through the world’s largest high-yield corporate bond issuance, allowing it to meet the massive bet on the ChatGPT maker. With the final tranche in place, SoftBank has cancelled the remaining $10 billion of undrawn capacity from a $40 billion bridge loan arranged earlier this year.