SoftBank Scrambles To Raise $22.5 Billion For OpenAI By Year-End, May Tap Arm Stake To Back Debt As AI Spending Pressure Mounts: Report
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SoftBank Group (OTC:SFTFB) (OTC:SFTBY) is reportedly racing to assemble $22.5 billion in funding for OpenAI by year-end, leaning on asset sales, potential borrowing, and a sweeping pullback in other investments as the cost of competing in artificial intelligence soars.
SoftBank Sells Assets, Freezes Deals To Fund OpenAI Bet
SoftBank has already sold its entire $5.8 billion stake in Nvidia Corp (NASDAQ:NVDA) and offloaded about $4.8 billion worth of T-Mobile U.S. (NASDAQ:TMUS) shares as CEO Masayoshi Son prioritizes funding OpenAI.
The Japanese conglomerate has sharply slowed dealmaking at its Vision Fund, with any investment exceeding $50 million now requiring Son's direct approval, signaling an "all-in" focus on AI, according to a Reuters report published Friday.
The company is also expl
SoftBank Sells Assets, Freezes Deals To Fund OpenAI Bet
SoftBank has already sold its entire $5.8 billion stake in Nvidia Corp (NASDAQ:NVDA) and offloaded about $4.8 billion worth of T-Mobile U.S. (NASDAQ:TMUS) shares as CEO Masayoshi Son prioritizes funding OpenAI.
The Japanese conglomerate has sharply slowed dealmaking at its Vision Fund, with any investment exceeding $50 million now requiring Son's direct approval, signaling an "all-in" focus on AI, according to a Reuters report published Friday.
The company is also expl
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