SoftBank's Son seeks up to $100 billion from Gulf investors for an AI buyout fund, FT reports
An unconfirmed but large bet on buying old companies and remaking them with AI.
SoftBank CEO Masayoshi Son is seeking to raise up to $100 billion from Gulf investors, including in the UAE, for a fund that would buy companies and improve them with AI and other technology, the Financial Times reported. Reuters could not verify the report, and SoftBank did not comment. SoftBank recently completed a $30 billion investment in OpenAI and sold $11.1 billion of high-yield bonds last month.
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SoftBank Vision Fund
After exploring SoftBank seeks up to $100 billion from Gulf investors for AI push, FT reports, for Son's last $100 billion fund, see SoftBank Vision Fund.
Founded in 2017 and managed by a SoftBank subsidiary, the Vision Fund has over $100 billion in capital, making it the world's largest technology-focused investment fund.
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