SoftBank Founder Masayoshi Son Seeks to Build AI Chip Venture to Rival Nvidia
Feb 17, 2024 - news.bensbites.co
SoftBank Group Corp. founder, Masayoshi Son, is reportedly seeking up to $100 billion for a new chip venture, Izanagi, aimed at competing with Nvidia Corp. The project, which aims to supply essential semiconductors for AI, represents Son's latest major initiative as SoftBank reduces its startup investments. The goal is to create a company that can work alongside chip design unit Arm Holdings Plc, building an AI chip powerhouse.
In a potential scenario, SoftBank would contribute $30 billion, with the remaining $70 billion possibly sourced from Middle Eastern institutions. The discussions are still private, according to anonymous sources.
Key takeaways:
Masayoshi Son, the founder of SoftBank Group Corp., is seeking up to $100 billion for a chip venture to compete with Nvidia Corp.
The project, code-named Izanagi, is Son's next big endeavor as SoftBank reduces startup investments.
Son aims to create a company that can complement chip design unit Arm Holdings Plc and allow him to build an AI chip powerhouse.
SoftBank may provide $30 billion, with the remaining $70 billion potentially coming from institutions in the Middle East.
