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Softbank has expressed commitment towards making its vision of artificial superintelligence a reality. According to CNBC, the Japanese tech giant said it is all in on OpenAI. From the beginning of this year, Softbank OpenAI investments have increased significantly. The company has also entered into joint ventures with the ChatGPT maker with the most notable one being the $500 billion Stargate project.
SoftBank views its investment in OpenAI as highly strategic. According to CEO Masayoshi Son, SoftBank AI investment strategy includes a total of $33.2 billion in OpenAI regardless of the fact that the US AI startup is currently unprofitable and unlisted. While acknowledging that it ‘takes bravery to invest’ in OpenAI, he said that ultimately the startup will be listed.
“I think that OpenAI will be listed eventually and, in my belief, will become the most valuable company in the world,” Son said.
This is not the first time that Son is expressing his optimism about OpenAI. He first revealed this conviction way before 2019 when OpenAI Sam Altman asked whether SoftBank could invest $10 billion in the startup.
“I said, yes, I would. I was serious because I had financial resources thanks to Vision Fund’s performance. But obviously, Sam talked to other potential investors, and eventually, they picked Microsoft,” he said.
OpenAI signed a deal with Microsoft, making the Windows maker the exclusive computing power provider for the AI startup’s products, research, and developer programming interfaces. However, Microsoft lost its exclusive status as OpenAI’s cloud provider early this year. Currently, the companies appear to be having a rocky relationship.
Recent reports show that the Windows maker is yet to approve OpenAI’s restructuring plan that is intended to convert it into a conventional for-profit entity. Commenting on Microsoft’s stand about the restructuring of OpenAI, Masayoshi Son said that the AI startup should have picked SoftBank as its initial partner. He however noted that the tech giant was smaller compared to Microsoft at the time.
CEO Son also acknowledged that the Windows maker also had more to offer, including its technical talent, brand value, and a more established global supply chain.
Previously, SoftBank has said that it may reduce its $30 billion investment in OpenAI’s March funding round to $20 billion if it fails to restructure its not-for-profit status by the end of this year. On June 27, CEO Son expressed confidence that OpenAI has become stronger, and that the Japanese tech giant will continue to nurture its relationship with the AI startup irrespective of its dealings with Microsoft.
Son believes strongly in OpenAI’s capabilities because he wants SoftBank to be at the heart of artificial superintelligence. According to him, artificial superintelligence will be 10,000 times more smarter than humans.
On June 27, Son said that his plan is to make SoftBank the largest provider of artificial superintelligence in the next decade. His vision is for the tech giant to serve as the “organizer of the industry in the artificial superintelligence era.”
According to him, the partnership between OpenAI, SoftBank and British semiconductor firm Arm would be critical in realizing these plans. SoftBank acquired Arm in 2016. In recent years, SoftBank has been aggressive in making AI-related investments.
These include acquiring US chip designer company Ampere for $6.5 billion this year. Last week, CEO Son said SoftBank is considering setting up a $1 trillion complex to develop AI in the US.