SoftBank Negotiates US$6 Billion Stake in 1X Technologies

SoftBank Group is negotiating to acquire a majority stake in 1X Technologies, a developer of humanoid robots. The potential transaction would value the startup at approximately US$6 billion.

This move follows a pattern of strategic expansion into the robotics sector by the investment conglomerate. Last year, SoftBank entered a US$5.4 billion agreement to purchase the robotics business of the Swiss engineering group ABB Ltd.

OpenAI, which invested in 1X Technologies in 2023 through its Startup Fund, reportedly explored acquiring the company itself last year. SoftBank has declined to comment on the current negotiations, and the final terms of the deal remain subject to change.