Business · Companies · 2 days ago

SoftBank seeks up to $100 billion from Gulf investors for AI

SoftBank seeks up to $100 billion from Gulf investors for AI

SoftBank founder Masayoshi Son is seeking up to $100 billion from investors in Gulf states to expand the company’s artificial intelligence investments.

He has held talks in recent weeks with officials and senior executives, including in the United Arab Emirates.

Son may use the money to create a fund that buys companies and applies AI and other advanced technology to improve their operations.

SoftBank’s robotics and physical AI division, Roze, is expected to play a key role in this plan.

The proposed fundraising comes as some investors question SoftBank’s exposure to the AI boom, especially after the delay of OpenAI’s expected stock market listing.

Son has made major AI investments, including a $65 billion investment in OpenAI, but his past bets have included high-profile failures such as WeWork.

Gulf investors have backed SoftBank before, including through its first $100 billion Vision Fund in 2017.

The talks may not lead to a successful fundraising, and no outcome has been announced.

Sources

Related news