OpenAI is finalizing a $40 billion investment from SoftBank at a $260 billion pre-money valuation, according to a CNBC report.
This would make Softbank the largest investor in the firm behind the AI chatbot ChatGPT, surpassing Microsoft as its top backer.
Per the report, which cited sources with knowledge of the matter, the funding will be paid out over the next 12 to 24 months. The initial funding installment could be as soon as the spring.
SoftBank would reportedly be able to syndicate as much as $10 billion of the investment.
Part of the investment is expected to support OpenAI's commitment to Stargate, a joint venture with SoftBank and Oracle aimed at enhancing AI infrastructure in the United States announced by President Donald Trump last month.
It comes after SoftBank announced it will spend $3 billion per year on OpenAI’s technology for itself and its subsidiaries, including British chipmaker Arm.
OpenAI was valued at $157 billion by private investors back in October.