SoftBank seeks up to $100 billion from Gulf investors for AI push, FT reports
SoftBank Group CEO Masayoshi Son is seeking to raise up to $100 billion from Gulf investors to fund a new wave of AI investments, the Financial Times reported on Friday, citing people familiar with the matter. Son has held discussions in recent weeks with senior figures, including in the United Arab Emirates, about the potential fundraising, the report said. Reuters couldn’t immediately verify…
SoftBank Group CEO Masayoshi Son is aiming to raise a maximum of $100 billion from Gulf investors to finance a new phase of AI investments, according to the Financial Times. The report, based on sources familiar with the situation, notes that Son has been in talks with key figures, including in the United Arab Emirates, regarding the possible fundraising.
However, Reuters has been unable to independently confirm the report and SoftBank has declined to comment. The development comes amid Son's intensified focus on AI, following the company's recent $30 billion investment in OpenAI as part of the latter's latest fundraising round. Additionally, SoftBank raised $11.1 billion last month via the largest high-yield corporate bond sale globally to support its significant bet on OpenAI.
The Japanese investment firm plans to utilize the funds to set up a fund that would acquire companies and enhance their operations through AI and other cutting-edge technologies, as per the report.
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