The Information, a tech news website, said on Saturday that SoftBank had approved a second installment of $22.5 billion to complete its $30 billion investment in OpenAI.
The Japanese investment group’s board has accepted the installment, provided the artificial intelligence startup completes a corporate restructuring that would pave the way for an eventual public offering.
SoftBank had previously committed to providing OpenAI with $10 billion in mid-April and an additional $30 billion in December, provided that the AI company converted to a for-profit organization by the end of the year.
But the digital investment firm had stated that the investment would be reduced to $20 billion if OpenAI’s restructuring failed.
