SoftBank Group (9984.T), opens new tab concluded its $40 billion investment in OpenAI on Tuesday, citing people familiar with the subject. This is one of the largest private funding rounds ever and deepens founder Masayoshi Son’s AI bet.

SoftBank is establishing one of the world’s largest private technology investment projects, focusing on AI and data centers.

AI has dominated global technology markets this year, spurring investment by the world’s largest corporations and changing investor expectations.

SoftBank pledged to invest up to $40 billion in a for-profit OpenAI subsidiary in March, using direct financing and syndicated co-investment.

According to the report, SoftBank Group invested $22 billion to $22.5 billion in OpenAI last week after syndicating $10 billion and investing $8 billion.