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SoftBank Raises $1.86 Billion Overseas As It Boosts AI Bets

Jun 28, 2024 - ndtvprofit.com
SoftBank Group Corp. has raised approximately $1.86 billion through dollar and euro bond sales, marking one of the largest foreign-currency deals by a Japanese company this year. The tech firm is using the funds to retire debt and fund operations, with a focus on expanding investment in artificial intelligence (AI). The offering, SoftBank's first non-yen debt offering since 2021, included two dollar tranches totaling $900 million and two euro tranches raising €900 million ($964 million).

The move is part of a larger trend of Japanese companies increasing overseas debt deals to take advantage of larger markets like the U.S. SoftBank's recent AI investments include a $200 million direct investment in Tempus AI Inc., and backing Perplexity AI at a $3 billion valuation. The company is also reportedly planning to invest $100 billion into AI-related chips in a project known as Izanagi.

Key takeaways:

  • SoftBank Group Corp. has raised approximately $1.86 billion through dollar and euro bond sales, marking one of the largest foreign-currency deals by a Japanese company this year.
  • The funds raised will be used to retire debt and fund operations, with a focus on expanding investment in artificial intelligence (AI).
  • SoftBank's recent AI investments include a $200 million investment into Tempus AI Inc., and backing Perplexity AI at a $3 billion valuation.
  • Long term, SoftBank is planning to invest around $100 billion into AI-related chips in a project known as Izanagi.
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