SoftBank Group, OpenAI, and Oracle are forming a $100 billion (R1.9 trillion) joint venture to fund artificial intelligence infrastructure.
SoftBank Group, OpenAI, and Oracle are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.
Initial equity will come from SoftBank, OpenAI, Oracle and Abu Dhabi state investor MGX, with a buildout of the first computing system starting in Texas, SoftBank said. The president said he would use emergency declarations and executive action to help ease construction projects, including through easier access to energy.
Ellison said some of the data centres being considered for the project were already under construction, and OpenAI has also already extensively outlined plans to invest in AI infrastructure. Bloomberg previously reported that SoftBank might tap hyperscalers in a project financing scheme and leverage tens of billions of dollars into hundreds of billions of dollars.
Over the longer-term, however, this may lead to calls for higher yields on future SoftBank bond issues — a key source of funding — because of the rising strain on the Japanese investor’s finances, said Takashi Fujiwara, head of fixed income management and chief fund manager at Resona Asset Management.
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