SoftBank weighs $30B follow-on investment in OpenAI at up to $830B valuation
What’s the deal? SoftBank Group is in talks to invest up to $30 billion more in OpenAI, deepening its exposure to the ChatGPT maker as the startup raises fresh capital. The talks are ongoing and terms could still change, according to people familiar with the matter.
If completed, the investment would build on SoftBank’s roughly 11% stake, formed after it completed a $22.5 billion investment in December 2025 as part of a funding commitment announced in March. OpenAI is seeking to raise at least $50 billion, and potentially up to $100 billion, at a valuation of about $750 billion to $830 billion.
Why now? OpenAI is raising aggressively as competition intensifies and the cost of training and running large AI models continues to climb. Chief executive officer Sam AltmanDealroom has a profile for this one. Try Dealroom → has been meeting investors in the Middle East as part of efforts to line up capital for the round.
What could go wrong? A further $30 billion investment would significantly increase SoftBank’s exposure to a single, still unprofitable company, adding pressure to its balance sheet. Ratings agencies have warned that a larger OpenAI stake could strain SoftBank’s credit profile and force asset sales or additional borrowing.
The signal: The talks underscore how capital-intensive the AI race has become, even for category leaders. They also highlight how far investor appetite has shifted toward scale and strategic positioning, with SoftBank making an increasingly concentrated, high-conviction bet on AI as its long-term core.
Sources:
The Wall Street Journal
Bloomberg
Tech Funding News
TECHi
Parameter
The Economic Times
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