Get all your news in one place.
100's of premium titles.
One app.
Start reading
Windows Central
Windows Central
Technology
Kevin Okemwa

OpenAI's undefined revenue streams fumbled a $30 billion investment but later saw a $500 billion kickback with "a clear focus of converting to a for-profit entity"

Workers on the stage as they prepare for a SoftBank Group Corp. news conference in Tokyo, Japan.

What you need to know

  • SoftBank's CFO recently revealed the institution had the chance to invest a low valuation of $30 billion in OpenAI but pulled back due to a lack of well-established revenue streams.
  • The institution recently invested $500 billion in OpenAI's $6.6 billion round of funding, citing a stronger revenue base and focus on converting to a for-profit entity.
  • SoftBank admits the ChatGPT maker could face critical developmental issues in the future. However, its multi-billion partnership with Microsoft and access to its Azure Cloud Computing services places it in a unique position to scale greater heights.
Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.