24.1 C
New Delhi
Friday, September 29, 2023
HomeTechSoftBank seeks OpenAI tie-up as Masayoshi Son plans deal spree after Arm...

SoftBank seeks OpenAI tie-up as Masayoshi Son plans deal spree after Arm IPO

SoftBank is looking for deals in artificial intelligence (AI), including a potential investment in OpenAI, after the blockbuster listing of its Arm unit, the Financial Times reported on Saturday.

SoftBank’s founder and chief executive, Masayoshi Son, is looking to invest tens of billions of dollars in AI, the newspaper said, citing two people familiar with Son’s thinking.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
Indian School of Business ISB Digital Transformation Visit
Indian School of Business ISB Applied Business Analytics Visit
Northwestern University Kellogg Post Graduate Certificate in Product Management Visit
Indian School of Business ISB Professional Certificate in Product Management Visit

Son said in June that his tech investing conglomerate planned to shift its stance to “offence mode” amid excitement over advances in AI.

The Japanese tech investment company could also look to strike a broad strategic partnership with ChatGPT maker OpenAI, FT said.

Son has expressed excitement about AI technology, adding he is a “heavy user” of ChatGPT, the AI-powered chatbot from Microsoft-backed startup OpenAI. He has also said that he speaks “almost everyday” to OpenAI CEO Sam Altman.

SoftBank is looking at a range of alternatives to OpenAI as well, including a preliminary approach to buy Graphcore, a UK-based AI chipmaker, the report added.

Discover the stories of your interest

In an emailed response to Reuters, Graphcore denied there was an attempt or offer from SoftBank to buy the company.SoftBank and OpenAI did not immediately respond to requests for comment.

Chip designer Arm secured a $54.5 billion valuation in its U.S. initial public offering (IPO) on Wednesday, seven years after SoftBank took the company private for $32 billion.

In August, SoftBank posted a surprise loss but said it was dipping its toes back into new investments after its Vision Fund returned to the black for the first time in six quarters.

The investment giant has been in “defence mode” since May 2022 after tech valuations crashed due to sharply higher interest rates and jitters that hit the global banking sector.

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

Source link

- Advertisment -


Our Archieves