Sam Altman
Dear reader,
SoftBank Group’s Vision Fund is reportedly preparing a US$500 million investment in OpenAI as part of a US$6.5 billion funding round.
This move, led by Thrive Capital with participation from Microsoft, highlights OpenAI’s soaring valuation of US$150 billion, making it one of the world’s most valuable startups. However, the investment comes at a time of flux for OpenAI.
The recent departure of CTO Mira Murati follows other leadership changes, raising questions about the company’s internal stability.
Additionally, OpenAI is exploring restructuring into a for-profit entity, which could signal a shift in strategy as it navigates both growth and societal responsibilities. The possible public benefit corporation model suggests OpenAI is considering how to balance profit-making with its mission to develop AI for the common good.
Interestingly, SoftBank’s investment marks its first direct backing of OpenAI, despite its earlier support of rival Perplexity AI. As OpenAI continues its rapid ascent in the AI landscape, these financial moves could reshape its future, both operationally and philosophically.
With discussions about CEO Sam Altman receiving equity, OpenAI is undergoing significant transitions, underscoring the broader evolution of AI companies as they reconcile commercial ambitions with global ethical responsibilities.
Sainul,
Editor.
—
NEWS & VIEWS
SoftBank invests US$500M in OpenAI
The deal represents SoftBank’s first investment in the Sam Altman-led AI firm; Apple reportedly dropped out of plans to participate in the round, which currently values OpenAI at US$150B before the SoftBank investment.
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HeiTech Padu acquires 30% stake in Islamic payment firm Souqa Fintech for US$3.94M
Souqa Fintech’s payment solutions PayHalal caters and compliments for the specific demand of Islamic financial solutions; It’ll enable HeiTech to propel further within the Islamic-based e-commerce ecosystem.
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