Softbank reportedly plans to invest in ChatGPT-maker and other AI firms

SoftBank is eyeing to invest big in artificial intelligence, with a potential investment in OpenAI being one of the many deals they are considering. Financial Times, citing insiders, reports that Masayoshi Son, the founder and CEO of the Japanese conglomerate, is planning to invest tens of billions of dollars in AI after the completion of Arm’s IPO.

Arm’s IPO generated nearly $5 billion in proceeds, and analysts predict that SoftBank’s value could increase up to $65 billion. This amount includes SoftBank’s own cash and the remaining 90% holding in Arm, which it plans to use as collateral for loans.

Son has mentioned that he is a frequent user of ChatGPT. He has reportedly developed a strong bond with Sam Altman, the CEO of OpenAI.