SoftBank Seeks Up To $100 Billion From Gulf States for AI Investments
Translated & summarized from NEWSru Israel by baba
SoftBank Group is reportedly seeking up to $100 billion from Persian Gulf investors to finance new artificial intelligence ventures. Founder Masayoshi Son has been in discussions with officials in the UAE and other regional countries regarding the potential investment. The funds would support a new vehicle aimed at acquiring and improving companies with AI. This initiative highlights SoftBank's growing AI ambitions, following recent investments in OpenAI and a significant bond issuance.
The story in 5 lines · by baba
- SoftBank plans to raise up to $100 billion from Persian Gulf investors for AI investments.
- Founder Masayoshi Son has discussed the plans with officials in the UAE and other regional nations.
- The funds will reportedly go into a new investment fund focused on AI-driven company acquisitions.
- This move reflects SoftBank's expanding ambitions in the artificial intelligence sector.
- Former Mossad chief Yossi Cohen joined SoftBank's global management in August.
SoftBank Group, the Japanese investment giant, is reportedly planning to raise up to $100 billion from investors in Persian Gulf countries to fund a new wave of investments in artificial intelligence technologies. According to the Financial Times, citing sources familiar with the company's plans, SoftBank founder and head Masayoshi Son has discussed the matter with high-ranking officials in the UAE and other regional nations in recent weeks. The funds raised are intended for a new investment fund that will acquire companies and enhance their efficiency using AI and other advanced technologies. SoftBank has not officially commented on these plans. The news follows SoftBank's recent $30 billion investment in OpenAI, the developer of ChatGPT, and an $11.1 billion raise from a record high-yield corporate bond issuance a month prior. Financial Times estimates these new plans underscore Son's significant AI ambitions, which are stretching the capacity of SoftBank's own balance sheet. The company is simultaneously increasing its investments in AI models, chips, data centers, and energy infrastructure. Notably, former Mossad chief Yossi Cohen joined SoftBank's global management in August.