SoftBank Group CEO Masayoshi Son is reportedly seeking to raise up to $100 billion for a new chip venture, named Izanagi, aiming to compete with NVIDIA in the AI semiconductor market, according to Bloomberg News.
This venture plans to produce chips critical for AI applications, with SoftBank proposing to contribute $30 billion and the remainder potentially sourced from Middle Eastern institutions.
SoftBank, holding a significant stake in British chip designer Arm, sees Arm as crucial to AI’s future. Recently, SoftBank returned to profit after a period of cautious strategy due to market downturns influenced by the pandemic and rising interest rates.
