What's happening
SoftBank founder Masayoshi Son aims to raise up to $100 billion for a fund that would transform existing companies using AI and robotics. According to the Financial Times, Son has approached influential Middle Eastern investors in recent weeks, particularly senior figures in the United Arab Emirates.
How the model would work
Unlike SoftBank's previous vehicles, which mainly backed technology companies, this fund would buy established businesses that have not yet adopted AI or robotics and improve their operations with those technologies. SoftBank's robotics and physical AI division, Roze, is expected to play a major role in these transformations. Son also intends to eventually take Roze public at a substantial valuation.
Open questions
Neither the fund's establishment nor its financing is guaranteed, and it remains unclear whether the money would only fund acquisitions or also Roze's development.
SoftBank's position
SoftBank has committed roughly $65 billion to OpenAI, the centerpiece of its investment strategy, financing its bets through internal resources, outside capital and borrowing partly secured by its Arm holdings. Son previously raised a $100 billion Vision Fund in 2017 with backing from Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala. Last month, SoftBank raised more than $11 billion through the largest junk bond issuance on record.
