SoftBank Group, opens new tab CEO Masayoshi Son said on Monday he has agreed with OpenAI CEO Sam Altman to set up a joint venture in Japan to offer artificial intelligence services to corporate customers.
The Japanese investment giant will also pay $3 billion annually to use OpenAI's technology across SoftBank group companies.
The joint venture, SB OpenAI Japan, will be owned by OpenAI and a company established by SoftBank and its domestic telecoms arm.
Son is moving to deepen his exposure to OpenAI, with SoftBank looking at investing $15 billion to $25 billion in the company, Reuters reported last week.
SoftBank is also committing $15 billion to Stargate, a joint venture with OpenAI and Oracle (ORCL.N), opens new tab to build AI capacity in the U.S., Reuters has reported.
The Stargate launch last month saw Son make his second appearance with Donald Trump since his election as president in November.
Son's backing for OpenAI reflects his reemergence as an investment force after a period of retrenchment sparked by the falling value of SoftBank's tech portfolio and a series of high profile stumbles.
He has a long history of partnering with tech firms in the U.S., with SoftBank bringing the iPhone to Japan in 2008.
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Canadian Prime Minister Mark Carney is working urgently to mend strained ties with Mexico, after relations collapsed late last year when Canadian officials indicated a preference for pursuing a U.S. trade deal without Mexico.
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Canadian Prime Minister Mark Carney is working urgently to mend strained ties with Mexico, after relations collapsed late last year when Canadian officials indicated a preference for pursuing a U.S. trade deal without Mexico.
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