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 Group Corp. announced on Feb. 3 that it has established a joint venture with U.S.-based OpenAI to provide artificial intelligence services for businesses in Japan.