SoftBank plans $500 million investment in OpenAI, report says

SoftBank's Vision Fund plans to invest $500 million in OpenAI as part of a larger funding round, according to a report. OpenAI is seeking to raise $6.5 billion, with a valuation of $150 billion, led by Thrive Capital and including Microsoft. This investment marks SoftBank's first in OpenAI, although it has previously backed a competitor. OpenAI is also considering restructuring into a for-profit entity and granting CEO Sam Altman a 7% equity stake, a significant change for the company. Recently, OpenAI faced a security breach when its social media account was hacked, promoting a fake cryptocurrency. Despite these challenges, OpenAI stated it remains committed to its mission of building beneficial AI.