SoftBank Group (TYO:9984) is in talks to invest up to $30 billion more in OpenAI, the Wall Street Journal reported, sending the Japanese conglomerate’s shares surging over 8% in early trade.
The discussions are ongoing, and terms could still change, the WSJ report said on Tuesday, citing people familiar with the matter.
OpenAI, the maker of ChatGPT, is seeking to raise as much as $100 billion in new funding, a round that could value the company at up to $830 billion if successful, the Journal has previously reported.
Tokyo-listed Softbank shares climbed over 8% to 4,408.0 yen as of 01:38 GMT.
SoftBank is already one of OpenAI’s largest shareholders. Its stake rose to about 11% in December after it invested $22.5 billion, the WSJ reported.
The company is also weighing a potential IPO and courting Middle Eastern sovereign wealth funds and venture capital investors, the report added.
