OpenAI has arranged a private stock sale for its staff with SoftBank Group that allows current and former employees to sell their stock to SoftBank at $210 per share, a source told Fortune on Tuesday. The tender offer, or bid to purchase stock in a company, allows OpenAI employees who were issued stock more than … Read more
OpenAI, the company behind ChatGPT, secured US$6.6 billion in new funding, propelling its valuation to US$157 billion and cementing its position as the world leader in artificial intelligence. The landmark investment, one of Silicon Valley’s largest, was announced by OpenAI on Wednesday. Founded in 2015 and led by Sam Altman, OpenAI plans to use the … Read more
SoftBank Group’s stock rebounded, helped by the Japanese company’s possible participation in an OpenAI funding round that may better position Masayoshi Son in a race over artificial intelligence. SoftBank’s Vision Fund plans to invest US$500 million in OpenAI, the Information reported, citing a person familiar with the deal. OpenAI is in talks to raise US$6.5 … Read more
SoftBank Group has acquired British semiconductor start-up Graphcore, as the Japanese firm seeks to strengthen its investments in chips and artificial intelligence. The companies announced the deal on Friday without disclosing financial terms. Bristol-based Graphcore will operate as a SoftBank subsidiary and keep its management team, Nigel Toon, Graphcore’s chief executive officer, told reporters in … Read more
Saudi Arabia’s new US$100 billion investment firm announced a string of deals Tuesday, including partnerships with SoftBank Group and a Chinese surveillance equipment maker to set up local manufacturing facilities, as part of the kingdom’s efforts to transform itself into an industrial powerhouse. The new vehicle, Alat, and SoftBank will invest as much as US$150 … Read more
Arm Holdings has recently laid off over 70 software engineers in China though it will relocate some of the roles outside of the Asian nation, according to people with knowledge of the move. The British firm’s actions mirrored those of major chip companies including Qualcomm that have cut back on the global staffing level earlier … Read more
