SoftBank Seeks Up to $100B From Gulf Investors to Expand AI and Robotics Bets
aiinsider ·
SoftBank Group is reportedly seeking up to $100 billion in funding from Gulf investors to expand its investments in artificial intelligence and robotics. Founder Masayoshi Son has held preliminary discussions with potential backers, including entities in the United Arab Emirates, for a proposed fund aimed at acquiring companies and integrating AI technologies. This strategic move adds to SoftBank's significant existing financial commitment, which includes nearly $65 billion invested in OpenAI. The fundraising effort comes as SoftBank faces rising borrowing costs and market concerns regarding OpenAI's revenue growth and delayed IPO. Son previously secured substantial capital from Saudi Arabia and Abu Dhabi for the Vision Fund in 2017, but the region now faces economic pressures due to the ongoing Iran war. In addition to the new fund, SoftBank plans to list its robotics arm, Roze, in the U.S., while its SB Energy unit prepares for a Nasdaq listing.
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