SoftBank has committed to spending $3 billion per year to use OpenAI's tech, according to a joint announcement on Monday

KEY TAKEAWAYS OpenAI has formed a joint venture with SoftBank Group to expand artificial intelligence services for businesses globally, starting with those in Japan.The two firms have set up a 50-50 joint venture called SP OpenAI Japan to deploy their Advanced Enterprise AI system,

SoftBank and its affiliates will have access to OpenAI's ChatGPT Enterprise, API, custom models, and agent products like Operator. Additionally, OpenAI tools will be used by Arm, the British chip designer acquired by SoftBank in 2016, to "boost productivity across the company."