SoftBank has committed to spending $3 billion per year to use OpenAI's tech, according to a joint announcement on Monday

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.

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,