SoftBank's Son Wants to Invest in OpenAI as ChatGPT 'Heavy User'

<p>The
Japanese conglomerate SoftBank is seeking investment opportunities in the
artificial intelligence (AI) industry. Following the booming stock market debut
of its subsidiary Arm, a British chip manufacturer, Masayoshi Son's company is
exploring the possibility of investing in OpenAI. The creator of the popular
ChatGPT is an attractive target for tech firms looking to join the rapidly
growing trend of AI-based solutions.</p><p>SoftBank Sets Its Sights
on OpenAI</p><p>According
to a weekend report by the Financial Times (FT), at least two people
familiar with the matter confirmed that Son, the Founder and driving force
behind SoftBank, wants to invest tens of billions of dollars in the <a href="https://www.financemagnates.com/tag/ai/" target="_blank" rel="follow">AI
industry</a>. </p><p>OpenAI,
which has already received significant support from Microsoft, is one of the
options being considered by the Asian conglomerate. However, when asked for a commentary,
a <a href="https://www.financemagnates.com/tag/softbank-group/" target="_blank" rel="follow">SoftBank </a>spokesperson told FT that the company does not comment on rumors.</p><blockquote><p lang="en" dir="ltr">SOFTBANK SEEKS OPENAI TIE-UP AS SON PLANS DEAL SPREE AFTER ARM IPO – FT</p>— First Squawk (@FirstSquawk) <a href="https://twitter.com/FirstSquawk/status/1703018498606420021?ref_src=twsrc%5Etfw">September 16, 2023</a></blockquote><p>Son
describes himself as a 'heavy user' of OpenAI's chat service and has
established a close relationship with Sam Altman, the company's CEO. According
to Son, Altman is currently 'one of the most important people on the planet',
with whom he allegedly speaks every day. </p><p>SoftBank
has already begun collaborating with OpenAI in the Japanese market, allowing
local companies to develop intelligent chatbots. If things do not work out with
ChatGPT, the company is considering alternative deals. One such option
would be the <a href="https://www.financemagnates.com/terms/a/acquisition/">acquisition</a> of Graphcore, a British AI chip maker. Alongside Arm,
this would be another UK-based chip manufacturer to join SoftBank's portfolio.</p><p>SoftBank's AI Chip Maker
Makes Stock Market Debut</p><p>Last
Thursday, shares of Arm Holdings, a SoftBank subsidiary that produces AI chips,
<a href="https://www.financemagnates.com/forex/news-nuggets-22-august-dmalink-partners-with-danske-softbanks-arm-targets-mega-ipo/" target="_blank" rel="follow">went public on the Nasdaq stock exchange</a>, rising 25% on the first day of
trading to $51. The company was valued at $60 billion and sold 95.5 million
shares under the symbol ARM.</p><p>Arm's
technology powers nearly every chip in today's smartphones, but the company
plans to shift its focus increasingly towards artificial intelligence. The
long-awaited debut on the American <a href="https://www.financemagnates.com/terms/s/stock-exchange/">stock exchange</a> was the largest Wall Street
has seen in 2023.</p><blockquote><p lang="en" dir="ltr">We're a public company on <a href="https://twitter.com/Nasdaq?ref_src=twsrc%5Etfw">@Nasdaq</a>!