SoftBank offloads entire Nvidia stake for $5.8 billion in surprise move| Business News

SoftBank Group Corp. sold its entire stake in Nvidia Corp., pocketing $5.8 billion ahead of a rash of planned investments by founder Masayoshi Son to build his own sphere of influence supporting artificial intelligence. SoftBank CEO Masayoshi Son. (Reuters) The Tokyo-based company had raised its stake in Nvidia to about $3 billion by the end […]

OpenAI wants US government loans to fund its AI investments of over $1 trillion| Business News

ChatGPT creator OpenAI, the world’s largest private company, is asking the US government to provide loan guarantees for its massive infrastructure expansion that will eventually cost more than $1 trillion. Sam Altman, chief executive officer of OpenAI Inc. (Bloomberg) Speaking at a Wall Street Journal business conference, OpenAI CFO Sarah Friar explained that government backing […]

OpenAI, Amazon strike $38-billion deal for ChatGPT to use AWS| Business News

Amazon.com Inc. will supply OpenAI with cloud computing services under a multi-year $38-billion deal, giving the ChatGPT maker access to hundreds of thousands of Nvidia graphics processors to train and run its artificial intelligence models. OpenAI recently turned into a for-profit enterprise. (Reuters) The agreement announced on Monday underscores the AI industry’s surging appetite for […]

‘You stole a non-profit,’ Elon Musk says on OpenAI’s for-profit status. Sam Altman responds.| Business News

Techbros Sam Altman and Elon Musk traded jibes online over the status of OpenAI Inc., after the AI company they co-founded turned into for-profit enterprise following an investment from Microsoft Corp. last week. Tesla CEO Elon Musk (left) and OpenAI CEO Sam Altman. (AFP) “You stole a non-profit,” Musk wrote on X, formerly Twitter, responding […]

Microsoft, OpenAI strike new deal that pegs ChatGPT maker’s valuation at $500 billion| Business News

Microsoft Corp. and Open AI have struck a new deal that allows the ChatGPT maker to restructure into a public benefit corporation. That gives OpenAI a valuation of $500 billion and more freedom it its business operations. OpenAI CEO Sam Altman (left) and Microsoft CEO Satya Nadella (AFP) The deal removes a major constraint on […]