SoftBank seeking OpenAI tie-up following Arm IPO, FT reports

SoftBank (SFTBY) is on the hunt for deals in artificial intelligence, including a potential investment in OpenAI, after the blockbuster listing of U.K. chip designer Arm (ARM) bolstered Masayoshi Son’s multibillion-dollar war chest, Financial Times’ Madhumita Murgia, Kana Inagaki and Leo Lewis and Tabby Kinder report. Two people familiar with Son’s thinking said that the Japanese conglomerate’s founder and chief executive is looking to invest tens of billions in AI after completing Arm’s initial public offering. Microsoft (MSFT)-backed OpenAI is one of several options SoftBank is considering for a handful of such deals, the authors note. SoftBank could also look to strike a broad strategic partnership with the ChatGPT maker, these people said.