SoftBank announces $30B follow-on investment in OpenAI

SoftBank Group Corp. announced that it entered into a definitive agreement to participate in OpenAI's fundraising round. The company will make follow-on investments of 30 billion U.S. dollars via SoftBank Vision Fund 2. The investment is subject to the satisfaction of customary closing conditions. Upon completion, SoftBank's cumulative investment in OpenAI is expected to total 64.6 billion U.S. dollars. This amount represents an ownership interest of approximately 13 percent. The company has invested an aggregate of 34.6 billion U.S. dollars in OpenAI through SoftBank Vision Fund 2 since September 2024. Masayoshi Son, chairman and chief executive of SoftBank Group Corp., said the additional investment will accelerate OpenAI's research and ecosystem expansion while advancing the company's ASI strategy. Sam Altman, chief executive of OpenAI, said SoftBank is the perfect long-term partner to help maximize the benefits of AI for people at global scale. The consideration for the investment is expected to be financed initially through bridge loans and other financing arrangements from major financial institutions. It will subsequently be replaced over time through the utilization of existing assets and other financing measures. SoftBank's financial policies regarding loan-to-value and cash position remain unchanged. In SoftBank's consolidated financial statements, the OpenAI shares will be classified as financial assets measured at fair value through profit or loss. Their fair value will be measured on a quarterly basis. Any changes in fair value will be recognized as investment gains or losses in the consolidated statement of profit or loss.