SoftBank seeks up to $100 billion from Gulf investors for AI push, FT reports
SoftBank Group CEO Masayoshi Son is aiming to raise up to $100 billion from Gulf investors to fuel a new wave of AI investments, according to a report by the Financial Times. The report, citing sources familiar with the matter, suggests that Son has been in talks with senior figures, including in the United Arab Emirates, about the potential fundraising.
However, Reuters has not yet been able to verify the report, and SoftBank has declined to comment. This move comes as Son is intensifying his AI bets, with the company recently completing a $30 billion investment in OpenAI, the last fundraising round for the ChatGPT maker. Earlier this month, SoftBank raised $11.1 billion in the largest high-yield corporate bond sale globally to fund its significant bet on OpenAI.
The Japanese investment conglomerate plans to use these proceeds to establish a fund that would acquire companies and enhance their operations using AI and other advanced technologies.
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