OpenAI chief Sam Altman, currently in Korea, wants to meet with Samsung Electronics (OTC:SSNLF) Chair Lee Yong and SoftBank CEO Masayoshi Son on Tuesday.
SoftBank agreed to set up a joint venture in Japan with OpenAI to offer AI services to corporate customers, Reuters reports. The joint venture, dubbed SB OpenAI Japan, will be owned by OpenAI, a company established by SoftBank and its domestic telecoms arm. SoftBank will pay $3 billion annually to use OpenAI’s technology across Softbank group companies.
OpenAI and SoftBank may ask Samsung to invest in their Stargate venture project, the Korea Herald reports.
In January 2024, Altman visited Samsung’s production facility in Pyeongtaek, Gyeonggi Province. Altman had voiced plans to develop such AI-specific hardware via a partnership.
The industrialists will likely discuss potential collaboration on advanced AI technology, including producing an AI-specific device.
The artificial intelligence frenzy is in no mood to slow down as global companies forge partnerships to integrate technology into various operations.
Anthropic was also on the verge of securing a further $2 billion from Silicon Valley venture capital investors in a deal likely to triple the start-up’s valuation to about $60 billion versus OpenAI’s $157 billion valuation. Like Meta Platforms Inc (NASDAQ:META) and Microsoft, OpenAI and Elon Musk’s xAI raised over $10 billion in 2024.
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