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SoftBank Seeks up to $100 Billion From Gulf Investors for AI Push, FT Reports
- On Friday, the Financial Times reported that SoftBank Group CEO Masayoshi Son is seeking up to $100 billion from Gulf investors to fund a new wave of artificial intelligence investments, though Reuters could not immediately verify the report.
- This effort mirrors the 2017 Vision Fund, where Son secured nearly $100 billion from Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala, though that vehicle produced mixed results, backing ByteDance while suffering failures like WeWork.
- The proposed fund would acquire companies and apply AI and robotics—including technology from SoftBank's unit Roze—to improve operations; Son has held recent discussions with senior figures in the United Arab Emirates regarding the potential fundraising.
- Amid investor scrutiny of AI valuations, SoftBank shares dropped 7.3% in Tokyo on Friday, as the firm competes with OpenAI's simultaneous efforts to raise $30 billion at a valuation of around $1.4 trillion.
- The firm faces pressure from growing borrowing costs after raising $11.1 billion in high-yield bonds last month, while SoftBank is in talks with investment funds including MGX to help anchor the proposed round.
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MASA PASSES THE HAT: SoftBank Eyes $100 BILLION Gulf Raise as Storm Shuts In Gulf Oil Output
Masayoshi Son is reportedly seeking up to $100 billion from Gulf investors to fund an AI-driven buyout vehicle, while Hurricane Isaias forces Chevron and other operators to shut in most Gulf of America production.
Japan's SoftBank Group intends to attract up to $100 billion from Gulf investors to finance a new wave of investment in artificial intelligence technology, writing Financial Times with a reference to sources familiar with the situation.
Coverage Details
Total News Sources32
Leaning Left0Leaning Right4Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
C 60%
R 40%
Factuality
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