OpenAI recently announced a $6.6 billion investment round, with notable participants such as Microsoft, Nvidia, and Thrive Capital. SoftBank also participated in the round, contributing $500 million.
Interestingly, SoftBank CEO Masayoshi Son is an avid user of ChatGPT. In fact, before investing in OpenAI, he understood AI’s potential after finding solace in conversations with the company’s chatbot during challenging times.
Feeling discouraged over business decisions, Son would talk to ChatGPT, which reassured him that his ideas were valid and promising. This comforting experience ultimately led to his decision to invest in OpenAI a year later.
Why this matters. SoftBank’s recent investment in OpenAI reflects how a CEO’s personal experience with AI can influence significant financial decisions. What’s more, it marks the Japanese company’s return to the AI market and shows that not all business decisions are based solely on hard-headed market analysis.
Context:
- June 2023: The Wall Street Journal reported on how Son used ChatGPT in the early hours of the morning to generate ideas and overcome a personal crisis.
- October 2024: SoftBank invests $500 million in OpenAI, acquiring 7.5% of the round.
xSon’s personal story. In 2023, Son experienced a period of deep sadness. He said, “There were times when I felt a real emptiness. I had a big cry. The tears didn’t stop for days.”
During this time, he found comfort and renewed creativity in late-night conversations with ChatGPT, which rejuvenated his spirit and inspired him to “lead the AI revolution.”
Figures:
- Son generated more than 600 invention ideas from his conversations with ChatGPT.
- SoftBank incurred losses of $6.9 billion in 2022 after the failure of WeWork, its biggest investment.
In fact, these big losses were the cause of discouragement for Son.
What’s next? SoftBank’s investment in OpenAI will likely help strengthen the Japanese company’s position in the AI market. OpenAI will use the funds to develop more advanced models as well as to buy time. It still has years to go until it reaches profitability.
SoftBank’s case is a striking one. First, it speaks to the eccentricities of Son, a successful but unorthodox CEO. It also reminds us of how the personal experiences of tech leaders can influence their financial decisions, even motivating them to take a chance based on emotional connections with technology.
Image | knowmadic news
Related | After Historic Funding Round, OpenAI Still Needs More Money. It Plans to Borrow up to $4 Billion
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