SoftBank Group CEO Masayoshi Son said on Monday he has agreed with OpenAI CEO Sam Altman to set up a joint venture in Japan to offer artificial intelligence services to corporate customers.The Japanese investment giant will also pay $3 billion annually to use OpenAI's technology across SoftBank group companies.

Japanese technology giant SoftBank Group and OpenAI are stepping up their partnership in artificial intelligence, setting up a 50-50 held company called SB OpenAI Japan.

TOKYO (Reuters) -SoftBank Group CEO Masayoshi Son said on Monday he has agreed with OpenAI CEO Sam Altman to set up a joint venture in Japan to offer artificial intelligence services to corporate customers.

SoftBank founder Masayoshi Son has scolded Japanese companies for not adopting AI quickly enough, comparing people who refuse to use AI with goldfish, unable to process information like language.

SOFTBANK Group’s founder Masayoshi Son is taking the stage in Tokyo on Monday (Feb 3) with OpenAI chief Sam Altman, part of a global push to spur investment in artificial intelligence (AI) supporting infrastructure.

SoftBank and OpenAI will host a gathering of more than 500 Japanese companies in Tokyo on Monday. They will seek the participation of a wide range of industries -- from transportation and logistics to manufacturing, pharmaceuticals and finance -- with an eye toward tapping into their data troves to develop generative AI for industry.

SoftBank Group companies will spend US$3 billion a year on OpenAI’s tools, despite the arrival of cheaper products from China’s DeepSeek.