SoftBank has completed its $40 billion investment commitment to OpenAI, sources told CNBC’s David Faber.
The Japanese investment giant sent over a final $22 billion to $22.5 billion last week, according to sources familiar with the matter, who asked not to be named in order to discuss details of the transaction.
SoftBank had previously invested $8 billion in the ChatGPT maker and syndicated another $10 billion with co-investors. The investment takes SoftBank’s stake in the company above 10%.
CNBC reported in February that the company was finalizing a $40 billion investment in the Sam Altman-run startup at a $260 billion pre-money valuation.
At the time, Faber reported that the funding would be paid out over a 12-to-24-month period. Some money was slated to support OpenAI’s artificial intelligence infrastructure Stargate joint venture with Oracle and SoftBank.
Companies have been spending big in recent months to build out infrastructure to support a frenzy for AI solutions and growing compute needs.
OpenAI has made more than $1.4 trillion in infrastructure commitments over the next several years, including agreements with chipmakers Nvidia, Advanced Micro Devices and Broadcom.
Over the years, SoftBank has been betting big on technology and AI companies and was an early investor in chipmaker Nvidia. On Monday, the conglomerate agreed to pay $4 billion for data center investment firm DigitalBridge to strengthen its AI push.
Last month, SoftBank liquidated its entire $5.8 billion stake in major AI beneficiary Nvidia.
A different source familiar with the move to sell the stake told CNBC at the time that the sale, combined with other cash sources, would support its OpenAI investment.
The startup, which is reportedly preparing for an initial public offering, has received billions in funding over the years from tech juggernaut Microsoft.
Earlier this month, CNBC reported that OpenAI was exploring the potential for a more than $10 billion investment from Amazon.
Disney is also a recent backer, following a $1 billion equity investment deal that allows users of OpenAI’s video generator Sora to generate content with licensed characters such as Mickey Mouse.
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