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Japanese billionaire Masayoshi Son is seeking to raise as much as $100 billion from Gulf investors to finance a new wave of artificial intelligence investments through SoftBank Group, according to the Financial Times.
The newspaper reported on October 9, citing people familiar with the discussions, that Son had held talks in recent weeks with senior figures in the United Arab Emirates and potentially other Gulf countries. The proposed fundraising remains uncertain, and there is no guarantee that the discussions will result in an agreement.
The money would be used to establish a fund focused on acquiring companies and improving their operations through artificial intelligence and other advanced technologies. SoftBank’s robotics and physical AI business, Roze, is expected to play a significant role in the strategy, the report said.
The proposed fund would extend Son’s efforts to position SoftBank at the centre of the global AI industry. The group has committed approximately $65 billion to OpenAI, the company behind ChatGPT, as it increases its exposure to artificial intelligence models, computing infrastructure and related technologies.
SoftBank has also relied heavily on borrowing to finance its ambitions. In September, the Japanese investment group raised approximately $11.1 billion through a high-yield bond sale, adding to the financing it has arranged for its AI investments.
The fundraising discussions come as SoftBank navigates uncertainty over the timing of OpenAI’s potential stock market listing. A public listing could provide greater liquidity and a market-based valuation for investors, although its timing remains uncertain.
Son has previously secured substantial funding from Middle Eastern investors. Saudi Arabia’s Public Investment Fund committed $45 billion to SoftBank’s first Vision Fund in 2017, while Abu Dhabi-based Mubadala committed $15 billion. That fund became one of the largest technology investment vehicles of its kind.
A new $100 billion fundraising would represent another major effort to draw capital from the Gulf into technology investments. However, the scale of the proposed fund also raises questions about investor appetite, the concentration of SoftBank’s AI exposure and the ability of its investments to generate returns.
The proposed fundraising should therefore be treated as a plan under discussion rather than a completed transaction.
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