SoftBank approves remaining $22.5 billion of OpenAI investment, the Information reports

SoftBank has approved a second installment of $22.5 billion to complete its $30 billion investment in OpenAI, tech news website the Information reported on Saturday.

The Japanese investment group's board has approved the installment as long as the artificial intelligence startup completes a corporate restructuring that would pave the way for an eventual public offering, the report said, citing a person with knowledge of the decision.

Reuters could not immediately verify the report. SoftBank and OpenAI did not immediately respond to a request for comment.

The money would fill out a $41 billion financing round that was announced in April, according to the Information report.

SoftBank had earlier agreed to fund OpenAI with $10 billion in mid-April and an additional $30 billion in December, contingent on the AI firm transitioning to a for-profit structure by the end of the year.

However, the tech investment firm had said that if OpenAI's restructuring fails, the investment amount would drop to $20 billion.