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SoftBank Seeks up to $100 Billion From Gulf Investors for AI Push, FT Reports
The proposed fund would buy companies and use artificial intelligence and other technologies to improve operations, according to the Financial Times.
- 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 Sources35
Leaning Left0Leaning Right4Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
C 60%
R 40%
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