SoftBank Seeks Up to $100 Billion for AI Acquisition Fund

SoftBank is seeking up to $100 billion from sovereign investors in the Gulf to create a fund that would acquire companies and apply artificial intelligence to their operations, expanding the Japanese group’s push into AI. SoftBank Group founder Masayoshi Son has held discussions with senior figures in the United Arab Emirates and other Gulf markets about the proposed vehicle. The fund would target established businesses rather than focus solely on buying stakes in AI model developers or infrastructure companies. SoftBank’s robotics and physical AI business, Roze, is expected to play a role in the strategy.

Source: TokenPost