SoftBank races to fulfill $22.5 billion funding commitment to OpenAI by year-end

NEW YORK/TOKYO/SAN FRANCISCO: SoftBank Group is racing to close a $22.5 billion funding commitment to OpenAI by year-end through an array of cash-raising schemes, including a ‍sale of some investments, and could tap its undrawn margin loans borrowed against its valuable ownership in chip firm Arm Holdings, sources said.

The “all-in” bet on OpenAI is among the biggest yet by SoftBank CEO Masayoshi Son, ⁠as the Japanese billionaire seeks to improve his firm’s position in the race for artificial intelligence.