Masayoshi Son Seeks $100 Billion for AI Fund

SoftBank Group CEO Masayoshi Son is seeking to raise up to $100 billion from investors in the Gulf, including the United Arab Emirates, to finance a new wave of artificial intelligence investments. The proposed funds would establish a dedicated vehicle for acquiring companies and enhancing their operations through AI and other advanced technologies.

This fundraising effort follows a period of aggressive spending by the Japanese conglomerate. SoftBank Group recently invested $30 billion in OpenAI, the developer of ChatGPT. To support that commitment, the company conducted a $11.1 billion high-yield corporate bond sale last month.