After investing $65 billion in Sam Altman's OpenAl, Japan's richest man Masayoshi Son is seeking $100 billion to fund other AI projects
The Times of India
Picture: The Times of India
SoftBank founder and Japan’s richest person, Masayoshi Son, is seeking up to $100 billion from Gulf investors to set up a new fund designed to buy out traditional businesses and overhaul their operations using artificial intelligence (AI) and robotics, a report has said. SoftBank is facing mounting market scrutiny over its $65 billion commitment to Sam Altman’s OpenAI, especially amid delays surrounding the artificial intelligence startup’s anticipated initial public offering (IPO), the Financial Times reported.Rather than backing early-stage tech ventures, the signature playbook of SoftBank's earlier investment arms, this proposed vehicle relies on a buyout-focused framework: acquiring established, non-tech firms that have lagged behind in automation and using AI and physical robotics to boost their efficiency and corporate value.Son has reportedly engaged influential sovereign investors across the Middle East in…
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