Masayoshi Son is pushing SoftBank to secure the remaining $22.5 billion owed to OpenAI by year-end, emphasizing urgency in the global AI landscape. With asset sales already in progress, SoftBank has divested its entire $5.8 billion Nvidia stake, cut $4.8 billion from T-Mobile US holdings, and reduced workforce numbers, all while deal-making has significantly slowed. The Vision Fund is now focused primarily on OpenAI, with investments over $50 million requiring Son’s direct approval, which has stymied new deals.
To raise capital, SoftBank is preparing multiple strategies, including an IPO for its payments app, PayPay, expected to raise over $20 billion. They are also looking to reduce shares in Didi Global. Despite overall cutbacks, funding for select AI startups has continued. OpenAI’s operational costs are rising, particularly amid fierce competition, leading to a critical phase as it aims for exponential growth in computing infrastructure.
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