SoftBank seeks up to $100 billion from Gulf investors for AI push, FT reports
On October 9, the Financial Times reported that SoftBank Group CEO Masayoshi Son is seeking up to $100 billion in funding from Gulf investors to bolster the company's expansion into artificial intelligence. Son has reportedly held talks with senior officials, particularly in the United Arab Emirates, regarding the potential fundraising efforts.
However, Reuters has not yet been able to confirm the information and SoftBank declined to comment on the matter. This comes as SoftBank intensifies its commitment to AI, having recently completed a $30 billion investment in OpenAI as part of its latest fundraising round. Additionally, SoftBank raised $11.1 billion in the largest high-yield corporate bond sale globally earlier this month to support its ambitious AI investment strategy.
The proceeds will be used to establish a fund that aims to acquire companies and enhance their operations using AI and other cutting-edge technologies.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- SoftBank seeks up to $100 billion from Gulf investors for AI push, FT reports channelnewsasia.com
- SoftBank seeks up to $100 bln from Gulf investors for AI expansion, FT reports investing.com
- Sources: SoftBank is seeking to raise up to $100B from Gulf investors for a fund to buy companies and improve their operations with AI and other advanced tech (Financial Times) ft.com
- Softbank seeks $100 billion from Gulf investors to expand AI bet economictimes.indiatimes.com
