According to reports, Japanese telecom company SoftBank's Vision Fund will invest $500 million in OpenAI's latest funding round.

According to reports, the company at the heart of the artificial intelligence boom will raise $6.5 billion in convertible bonds.

Apple has reportedly withdrawn from participating in a major funding round, and the artificial intelligence startup's valuation before Softbank's investment is currently $150 billion.

The deal is SoftBank's first investment in a firm led by Sam Altman, Information reported. OpenAI plans to reorganize its core business into a for-profit corporation not controlled by a non-profit board of directors.

India's hot stock market has been a winner for Japanese technology investor SoftBank Group. Three SoftBank-backed companies made solid debuts in Mumbai over the past week. Shares of e-scooter maker Ola Electric Mobility, the largest of the initial public offerings, soared more than 60 percent.

Software maker Unicommerce eSolutions' share price has already risen more than 80 percent, while the share price of baby products retailer Brainbees Solutions has climbed about 40 percent.

A more successful IPO could add funds for Chief Executive Officer Masayoshi Son's planned major foray into AI and semiconductors. The company has amassed a huge pile of cash and its asset value has soared along with the stock price of its chip affiliate, Arm Holdings.

However, this valuation depends on the ChatGPT maker's ability to transform its corporate structure and eliminate investor profit caps.