SoftBank Insiders Fear Sam Altman Is Conning CEO Son

Insiders at SoftBank are reportedly concerned their CEO, Masayoshi Son, is being conned by OpenAI's Sam Altman. SoftBank has invested $60 billion into OpenAI. Bloomberg reports that some SoftBank insiders privately questioned if the company can deliver on its promises. Son's reaction was reportedly "brusque," causing them to stop raising concerns. A former SoftBank insider described the investment as a "bet on a worldview about AGI." Son has a mixed investment history, including a successful bet on Alibaba but also significant support for WeWork, which imploded in 2019. SoftBank has sold assets, including Nvidia shares, to fund its OpenAI commitment. Insiders are also reportedly worried about OpenAI losing ground to competitors like Anthropic. Both SoftBank and OpenAI downplayed the reporting, stating they have a strong strategic partnership and a great relationship. This situation highlights the high-stakes financial bets being made in the AI industry.