SoftBank Group is negotiating a potential investment of up to $30bn in OpenAI, according to a source familiar with the matter, reported Reuters.

This possible commitment would contribute to a larger funding round that aims to raise as much as $100bn for the AI company, which could bring OpenAI’s valuation to approximately $830bn.

The discussions come as SoftBank continues its strategy of increasing involvement in the AI sector under CEO Masayoshi Son, who previously led a $41bn investment in OpenAI in December, securing an 11% equity stake.

OpenAI is facing increased operational costs associated with developing and maintaining its AI models amid growing competition from Google, owned by Alphabet.

Both SoftBank and OpenAI are also stakeholders in Stargate, an initiative with a projected cost of $500bn to construct data centres for AI training and inference, a project described as significant for US ambitions to maintain technological leadership over China in AI.

SoftBank’s shares rose by 3.5% during morning trading in Tokyo following reports of the ongoing negotiations. When contacted, SoftBank declined to provide any comment on the matter.

The publication previously reported that Son had prioritised funding for the initial OpenAI investment, resulting in reduced activity at SoftBank’s Vision Fund.

In related developments, CGI announced a new global partnership with OpenAI designed to assist clients in implementing advanced AI capabilities at an enterprise level.

The agreement will see CGI integrate OpenAI’s tools into its operations and training programmes, aiming to improve security practices and deployment methods based on practical experience.

CGI also plans to expand its use of ChatGPT Enterprise across its workforce as part of its longstanding internal strategy intended to prepare client organisations for adopting AI technologies within regulated environments.