RE: Ewan Collinge10 Apr 2025 12:01
Softbank issued this about the transaction on 1 April 2025;
"With the center of the “Information Revolution” having evolved from personal computers, the Internet, and broadband to smartphones, it has now entered a new phase led by artificial intelligence (AI). In this context, SBG has declared its mission to realize Artificial Super Intelligence (ASI) for the advancement of humanity.
Recognizing OpenAI as the partner closest to achieving Artificial General Intelligence (AGI), a key milestone on the path to ASI, and its mission of ensuring AGI benefits all of humanity, SBG has positioned OpenAI as its most important partner and invested USD 2.2 billion in total through SoftBank Vision Fund 2 since September 2024.
The advancement of OpenAI’s AI models is key to achieving AGI and ASI, and massive computing power is essential. To that end, SBG has announced the “Stargate Project” together with OpenAI on January 21, 2025, to build dedicated AI infrastructure for OpenAI in the United States.
In alignment with this initiative, and to both further support OpenAI’s growth and capture the benefits of that growth in SBG’s NAV (Net Asset Value: calculated as equity value of holdings – adjusted net interest-bearing debt), SBG has decided to make follow-on investments in OpenAI."
Just imagine if Cykel can capture someone such as Softbank for VC purposes? Can the boys at Cykel do it?