SoftBank is seeking to raise as much as $100 billion from Gulf investors to scale up its artificial intelligence investments, according to the Financial Times, citing people familiar with the matter2,3,5. Founder and CEO Masayoshi Son has held talks with senior figures in the United Arab Emirates in recent weeks.
The proposed fund would acquire companies and use AI and machines, including technology from SoftBank's robotics arm Roze, to improve their operations. A SoftBank representative declined to comment.
The effort would add to SoftBank's existing AI spending, which includes almost $65 billion invested in OpenAI. SoftBank shares fell as much as 7.3% in Tokyo on Friday on concerns over OpenAI's revenue growth. OpenAI recently told investors its annualized revenue was approaching $50 billion, roughly $20 billion below a widely cited $70 billion figure[2]. OpenAI has delayed its IPO and is separately seeking a further $30 billion at a valuation of around $1.4 trillion, with funds including MGX in talks to anchor that round.
Son secured nearly $100 billion in 2017 for the first Vision Fund, largely from Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala. ANALYSIS The new fundraising effort would match the scale of that original Vision Fund, this time directed specifically at AI-driven acquisitions rather than broad tech bets.
SoftBank also plans to list Roze in the U.S., while unit SB Energy, building an 8.8-gigawatt data center in Ohio, is preparing a Nasdaq listing.