SoftBank's investment in OpenAI may position the company as the world's joint-second most valuable private tech firm after SpaceX.

Japan's SoftBank is in talks to invest $15-25 billion in OpenAI in a deal that would make it the ChatGPT-maker's biggest financial backer, the Financial Times reported on Thursday.

Wall Street are pointing mostly higher in premarket trading while more corporate earnings poured in a day after the Federal Reserve opted to leave its benchmark lending rate alone

Elon Musk threw shade at OpenAI’s Sam Altman on Tuesday after his rival took center stage at the White House to unveil his ambitious $500 billion “Stargate” AI infrastructure project.

Shares of Nvidia, Broadcom, and ASML slump as China’s DeepSeek threatens the companies’ dominance in artificial intelligence, and Tesla falls ahead of earnings from the electric-vehicle giant later this week.

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Trump was joined by SoftBank Group Corp.’s Masayoshi Son, OpenAI’s Sam Altman and Oracle Corp.’s Larry Ellison at the White House to announce the venture, dubbed Stargate, which they said would deploy $100 billion immediately with the goal of eventually spending $500 billion for the construction of data centers and physical campuses.

US stocks rose on Thursday, with the Nasdaq (^IXIC) and S&P 500 (^GSPC) eyeing a comeback as investors digested news that the US economy expanded slower than economists had expected in the last three months of the year.

Meta Platforms, Tesla and most other U.S. stocks are rising Thursday following a rush of profit reports from some of the country’s most influential companies.

Musk said Tesla robotaxis with unsupervised Full Self Driving technology will begin picking up fares in Austin, Texas, beginning this June. The Tesla CEO gushed over autonomous vehicle safety even as the NHTSA continues numerous probes into myriad versions of Tesla’s automated driving technologies.

Meta and Tesla shares rally. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

Reports began circulating this week that SoftBank is in talks to invest as much as $25 billion into OpenAI, a move that would position the Japanese operator as the generative AI (gen AI) company’s biggest financial backer.