SoftBank's Son Seeks $100B for AI-Robotics Buyout Fund
Masayoshi Son has approached Middle Eastern investors, including senior UAE figures, to raise up to $100 billion for a fund that would acquire companies and upgrade them with AI and robotics.
SoftBank founder Masayoshi Son is seeking up to $100 billion from Middle Eastern investors to establish a fund that would acquire companies and improve their operations using artificial intelligence and robotics, according to tomshardware.com.
Son has approached influential investors in the region in recent weeks, including senior figures in the United Arab Emirates.
SoftBank's robotics and physical AI division, Roze, would reportedly play a major role in the transformations of acquired companies. Son intends to eventually take Roze public at a substantial valuation.
The fund's establishment and financing are not guaranteed.
Background
SoftBank's earlier investment vehicles drew heavily on Middle Eastern capital: Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala participated in the original $100 billion Vision Fund in 2017. SoftBank has since committed approximately $65 billion to OpenAI, and Vision Fund 2, which holds that investment, had generated $20.5 billion as of June.
Quick answers
How much is Masayoshi Son seeking for the new fund?
Up to $100 billion from Middle Eastern investors.
What would the fund do with the companies it acquires?
It would improve their operations using artificial intelligence and robotics, with SoftBank's Roze division reportedly playing a major role.
Is the fund confirmed?
No. The fund's establishment and financing are not guaranteed.