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SoftBank Group (TYO:9984) is in talks to lead a funding round of up to $40 billion in OpenAI, valuing the ChatGPT maker at $300 billion, sources said. If finalized, this would mark a record-breaking private funding round.
The investment discussions come as Chinese AI startup DeepSeek gains global attention with its cost-efficient AI model, raising concerns over OpenAI’s competitive edge. SoftBank has reportedly valued OpenAI at $260 billion ahead of the funding, up from $150 billion a few months ago. The investment, expected in the form of convertible notes, depends on OpenAI restructuring to reduce its non-profit arm’s control.
SoftBank CEO Masayoshi Son, with $30 billion in deployable cash, sees this as a strategic bet in the AI sector. The Wall Street Journal reported that OpenAI's valuation could reach $340 billion. SoftBank may invest $15 billion to $25 billion, partly to fund Stargate—a joint AI initiative with Oracle (NYSE:ORCL) and OpenAI—aiming to invest up to $500 billion to maintain U.S. AI dominance.
Tech giants like Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META) are also ramping up AI spending. Microsoft has allocated $80 billion this fiscal year, while Meta plans to invest $65 billion to stay competitive.
Meanwhile, DeepSeek’s AI model, trained with just $6 million worth of Nvidia (NASDAQ:NVDA) H800 chips, has raised concerns over high-cost AI development sustainability. Using model distillation, DeepSeek builds on existing AI models, challenging OpenAI’s ability to sustain premium pricing.
While SoftBank and OpenAI declined to comment, the talks highlight the growing battle for AI dominance as investors weigh high-cost innovation against emerging low-cost alternatives.
