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SoftBank investment in OpenAI

SoftBank Group has finalized its $30 billion follow-on investment in OpenAI with a final $10 billion payment, bringing its total backing to $64.6 billion.

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Illustration: OpenAI requires continuous funding to secure gigawatt-scale data center capacity.From: SoftBank Completes $30 Billion OpenAI Investment to Secure 13% Stake

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By 14:52 UTC on November 7, OpenAI secured $11 billion in fresh funding, marking the first close of a round that values the company at $1.25 trillion. The funds were wired to the company on the preceding Friday, following more than a month of discussions with investors after the delay of OpenAI's initial public offering plans. The initial tranche includes investments from SoftBank Group, Coatue Management, T. Rowe Price, Sequoia Capital, Founders Fund, Andreessen Horowitz, and the United Arab Emirates-backed fund MGX.

The first close falls short of OpenAI's original target to raise at least $30 billion at a $1.4 trillion valuation. The company scaled back its ambitions amid a broader public market sell-off in artificial intelligence stocks and growing market concerns over the massive capital expenditures required for AI infrastructure. Investors are weighing the potential for tighter AI regulations and new roadblocks to data center construction following the recent United States midterm elections.

Despite the reduction, the $1.25 trillion valuation represents a 47 percent increase from the $852 billion mark set in March. OpenAI is also working with investment banks to raise capital from high-net-worth individuals and retail investors, with the total round expected to reach up to $20 billion in the coming weeks.

How the story developed

In February, SoftBank Group made a funding commitment to OpenAI. The following month, in March, OpenAI raised $122 billion in committed capital, a fundraising round that valued the artificial intelligence laboratory at $852 billion.

To finance its escalating stake in OpenAI and refinance a portion of a $40 billion bridge loan previously used to float the wager, SoftBank launched a multi-tranche bond offering on September 21. The debt package included $10 billion in United States dollar notes and 1 billion euros in euro notes across five different maturities.

SoftBank's cumulative investment in OpenAI now stands at $64.6 billion.From: SoftBank Completes $30 Billion OpenAI Investment to Secure 13% Stake ·

The $11.1 billion high-yield corporate bond sale, the largest globally, was utilized to fund SoftBank's ongoing investments in OpenAI. The proceeds were earmarked to cover a $10 billion payment for the third tranche of SoftBank's investment.

On October 1, SoftBank executed the third and final $10 billion payment, fulfilling its February funding commitment. The transaction finalized SoftBank's $30 billion follow-on investment in OpenAI, bringing the Japanese conglomerate's cumulative investment to $64.6 billion and securing an approximate 13 percent ownership stake.

Amazon, SoftBank, and Nvidia anchored OpenAI's $122 billion fundraising round.From: SoftBank Completes $30 Billion OpenAI Investment to Secure 13% Stake ·

Following the delay of its initial public offering plans, OpenAI spent more than a month in discussions with investors. On November 7, the company closed an $11 billion funding tranche at a $1.25 trillion valuation, with SoftBank Group participating as an investor in the initial tranche alongside other firms.

What to watch

  • The total funding round is expected to reach up to $20 billion in the coming weeks.
  • OpenAI is expected to brief investors on its third-quarter results next week to discuss its recent financial performance.
  • OpenAI is working with investment banks to raise capital from high-net-worth individuals and retail investors.
  • Rival Anthropic's upcoming initial public offering is expected to target a lower valuation range of $1.1 trillion to $1.3 trillion.

Where things stand

  1. OpenAI Closes $11 Billion Funding Tranche at $1.25 Trillion Valuation

    Key point: OpenAI has closed an $11 billion funding tranche at a $1.25 trillion valuation, scaling back its initial $30 billion target amid cooling investor sentiment toward AI infrastructure costs.

    Illustration: OpenAI requires continuous funding to secure gigawatt-scale data center capacity.From: SoftBank Completes $30 Billion OpenAI Investment to Secure 13% Stake

    OpenAI has secured $11 billion in fresh funding, marking the first close of a round that values the artificial intelligence company at $1.25 trillion. The funds were wired to the company on Friday after it spent more than a month in discussions with investors following the delay of its initial public offering plans. The total round is expected to reach up to $20 billion in the coming weeks.

    The initial tranche includes investments from Coatue Management, T. Rowe Price, SoftBank Group, Sequoia Capital, Founders Fund, Andreessen Horowitz, and MGX, a United Arab Emirates-backed fund. OpenAI is also reportedly working with investment banks to raise capital from high-net-worth individuals and retail investors. The company is expected to brief investors on its third-quarter results next week to discuss its recent financial performance.

    The first close falls short of OpenAI's original target of raising at least $30 billion at a $1.4 trillion valuation, as the company scaled back its ambitions amid a broader public market sell-off in AI stocks. Despite the reduction, the $1.25 trillion valuation represents a 47% increase from the $852 billion mark set in March 2026, when OpenAI raised $122 billion in committed capital.

    The fundraising recalibration reflects growing market concerns over the massive capital expenditures required for AI infrastructure. Investors are increasingly weighing the potential for tighter AI regulations and new roadblocks to data center construction following the recent US midterm elections. This shift in sentiment is also impacting rival Anthropic, whose upcoming initial public offering is now expected to target a lower valuation range of $1.1 trillion to $1.3 trillion, down from earlier expectations of up to $2 trillion.

    Sources:

Charts, maps and images

The multi-tranche offering spans dollar and euro notes across five different maturities.From: SoftBank Plans $11 Billion Bond Sale to Fund Strategic OpenAI Investments ·
SoftBank's total investment commitment to OpenAI secures an estimated 13% equity stake.From: SoftBank Plans $11 Billion Bond Sale to Fund Strategic OpenAI Investments ·
Illustration: OpenAI requires continuous funding to secure gigawatt-scale data center capacity.From: SoftBank Completes $30 Billion OpenAI Investment to Secure 13% Stake ·

Timeline

November 2026

  1. OpenAI Closes $11 Billion Funding Tranche at $1.25 Trillion Valuation
    1. OpenAI Closes $11 Billion Funding Tranche at $1.25 Trillion ValuationKey point: OpenAI has closed an $11 billion funding tranche at a $1.25 trillion valuation, scaling back its initial $30 billion target amid cooling investor sentiment toward AI infrastructure costs.

October 2026

  1. SoftBank Completes $30 Billion OpenAI Investment to Secure 13% Stake

September 2026

  1. SoftBank Plans $11 Billion Bond Sale to Fund Strategic OpenAI Investments