SoftBank chief pursues $100 billion Gulf AI fund
Arabian Post Staff -Dubai SoftBank Group chief executive Masayoshi Son is seeking up to $100 billion from Gulf investors for a proposed fund that would acquire businesses and transform their operations using artificial intelligence. The fundraising discussions are at an early stage, with senior figures in the United Arab Emirates among those approached. No commitments or final agreements have…
SoftBank Group's chief executive, Masayoshi Son, is pursuing up to $100 billion from Gulf investors to create a fund aimed at acquiring businesses and applying artificial intelligence (AI) to enhance their operations. The fundraising discussions are at an early stage, with senior figures in the United Arab Emirates being approached.
However, no commitments or final agreements have been announced, and there's no assurance the proposed fund will secure its target capital. This plan would mark an expansion of SoftBank's AI investment strategy, but with a focus on acquiring operating businesses and employing advanced software and robotics to improve their performance, rather than concentrating solely on companies developing AI systems.
SoftBank's robotics subsidiary, Roze, is expected to play a role in this strategy. The $100 billion figure represents an ambition rather than money already raised. SoftBank has already invested $30 billion in OpenAI, the developer of ChatGPT, making up about $65 billion of its cumulative investment. This exposure makes OpenAI's commercial progress and potential stock market listing significant for SoftBank's finances.
The proposed fund's management, investment period, geographic focus, and timeline remain undisclosed.
Written by urgent.news from Arabian Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
