SoftBank, OpenAI partner for AI solutions in Japan

News Image

By MG News | February 03, 2025 at 01:14 PM GMT+05:00

0:00

February 03, 2025 (MLN): SoftBank Group CEO Masayoshi Son said on Monday he has agreed with OpenAI CEO Sam Altman to set up a joint venture in Japan to offer artificial intelligence services to corporate customers.

The Japanese investment giant will also pay $3 billion annually to use OpenAI's technology across SoftBank group companies.

The joint venture, SB OpenAI Japan, will be owned by OpenAI and a company established by SoftBank and its domestic telecoms arm.

Son is moving to deepen his exposure to OpenAI, with SoftBank looking at investing $15bn to $25bn in the company, Reuters reported last week.

SoftBank is also committing $15bn to Stargate, a joint venture with OpenAI and Oracle to build AI capacity in the U.S., Reuters has reported.

The Stargate launch last month saw Son make his second appearance with Donald Trump since his election as president in November.

Son's backing for OpenAI reflects his reemergence as an investment force after a period of retrenchment sparked by the falling value of SoftBank's tech portfolio and a series of high profile stumbles.

He has a long history of partnering with tech firms in the U.S., with SoftBank bringing the iPhone to Japan in 2008.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 106,740.00 108,105.00
106,625.00
-1495.00
-1.38%
BRENT CRUDE 66.95 67.50
66.34
0.21
0.31%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.44 65.98
64.67
0.33
0.51%
SUGAR #11 WORLD 15.78 16.21
15.67
-0.42
-2.59%

Chart of the Day


Latest News
July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola


July 01, 2025 at 04:53 PM GMT+05:00

PSX proposes key regulatory amendments


July 01, 2025 at 04:30 PM GMT+05:00

Cement dispatches likely to drop 28% MoM in June 2025


July 01, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Breaking Records, Breaking Ground


July 01, 2025 at 03:28 PM GMT+05:00

June inflation falls to 3.2%



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg