SoftBank completes final phase of $30 billion investment in OpenAI

Oct 1 (Reuters) - SoftBank ‌Group said ​on ​Thursday it has completed its $30 billion investment in OpenAI as ‌part of its commitment to the ChatGPT ⁠maker's last fundraising round.

Here are some other details:

• ‌Earlier this year, OpenAI ‌had secured $122 billion in commitments that valued the Sam Altman-led company at $852 billion. ​Amazon, Nvidia and SoftBank had anchored the fundraising.

• The Japanese investment conglomerate, ⁠led by founder Masayoshi Son, previously agreed to invest the ​capital through three tranches of $10 billion each through its Vision Fund 2.

• ​SoftBank raised $11.1 billion last ‌month in the largest high-yield corporate bond sale globally to fund ⁠its mammoth bet on OpenAI.

• It has become one of the world's biggest backers ⁠of OpenAI under founder Son's push to make the ​Japanese conglomerate a dominant investor in AI.

• SoftBank's cumulative investment in OpenAI stands at $64.6 billion, giving ‌it a 13% stake in the AI lab.

• It has canceled ‌the remaining $10 billion of undrawn capacity ⁠under its $40 billion bridge ‌loan secured ​earlier this year.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi ‌Majumdar)

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