SoftBank is reportedly seeking up to $100 billion from Gulf investors to launch an artificial intelligence-focused investment fund, according to a Financial Times report cited in the announcement.
The Japanese technology group plans to use the fund to acquire companies and improve their operations through AI and other advanced technologies. CEO Masayoshi Son has held talks with senior figures in the Gulf, including in the United Arab Emirates, in recent weeks, the report said.
The fundraising effort follows SoftBank’s $30 billion investment in OpenAI, which completed the company’s commitment to the ChatGPT developer’s latest funding round. In September, SoftBank also raised $11.1 billion through a high-yield corporate bond sale to support its investment in OpenAI.
Reuters said it could not independently verify the Financial Times report. SoftBank did not immediately respond to a request for comment.
Source: EntArabi
