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Elon Musk was among the first to question the funding for the project, claiming that the drivers, including Microsoft and SoftBank, "don't actually have the money". OpenAI CEO Sam Altman is visiting the UAE to discuss raising $40 billion with Abu Dhabi's MGX, aiming to fuel AI development and compete with China’s DeepSeek, as the UAE invests heavily in AI infrastructure.
SoftBank Group's Investment in OpenAI
SoftBank Group plans to invest $3 billion each year to implement OpenAI's solutions across its group companies. The two companies will develop an advanced enterprise AI called 'Cristal Intelligence' for large firms, with the Japanese tech giant spearheading its deployment as the first customer to implement the technology at scale.
Sam Altman's Visit to India
OpenAI's CEO, Sam Altman, will visit India on February 5th to meet government officials, tech entrepreneurs, and investors. This visit aims to position OpenAI within India's growing AI initiatives, including the IndiaAI Mission. Altman’s whirlwind trip to New Delhi is part of his tour, which also includes Japan, South Korea, the UAE, Germany, and France.
Joint Venture between SoftBank Group and OpenAI
Japan's SoftBank Group will form a joint venture with US tech giant OpenAI to offer advanced artificial intelligence to businesses, SoftBank chief executive Masayoshi Son announced on Monday.
Net profit rose 62% on-year to Rs 6.3 crore for the Gurugram-based ecommerce software firm, on control of expenses under various heads.
Investment Round with SoftBank as the Lead Investor
SoftBank is leading the investment round and is in talks to invest $15-25 billion in the deal that would make it the ChatGPT-maker's biggest financial backer. SoftBank has offered a term sheet that would value OpenAI at a pre-money valuation of $260 billion.
Major Investment Deal with SoftBank
SoftBank Group is negotiating to lead a $40 billion funding round for AI developer OpenAI, which could value the company at $300 billion. This move comes as competition heats up with Chinese startup DeepSeek's low-cost AI model. The investment is expected to involve convertibles and is contingent on OpenAI restructuring away from its non-profit status.
A New AI Initiative - Stargate Project
Shareholders of OfBusiness’s parent company, Ofb Tech, have approved a plan to convert it into a public limited company. This change is a necessary step for the company to file its IPO papers with the Securities and Exchange Board of India, as it prepares to go public in the future.
DeepSeek claimed to have achieved this by using innovative engineering to replace raw computing power, accomplishing it in China—a country many experts believed was far behind in the global AI race. Initially, industry observers reacted with disbelief, which later shifted to concern over DeepSeek’s breakthrough.
