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Investing.com -- SoftBank (TYO:9984) Group CEO, Masayoshi Son, announced on Monday that a joint venture with OpenAI will be established in Japan. The venture, named SB OpenAI Japan, aims to provide artificial intelligence services to corporate clients.
The Japanese investment powerhouse will pay $3 billion annually to employ OpenAI’s technology across its group companies. OpenAI, along with a company created by SoftBank and its domestic telecoms arm, will own SB OpenAI Japan.
SoftBank is looking to expand its involvement with OpenAI. The company is considering an investment ranging from $15 billion to $25 billion in OpenAI, as reported last week.
Additionally, SoftBank has pledged $15 billion to Stargate, another joint venture. This project, in collaboration with OpenAI and Oracle (NYSE:ORCL), is designed to bolster AI capacity in the U.S.
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