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 inked a $3 billion deal with OpenAI in a joint venture to market OpenAI tech in Japan with its newly-minuted "Cristal Intelligence" suite of tools.

SoftBank Group CEO Masayoshi Son said on Monday he has agreed with OpenAI CEO Sam Altman to set up a joint venture in Japan to offer artificial intelligence services to corporate customers.The Japanese investment giant will also pay $3 billion annually to use OpenAI's technology across SoftBank group companies.