Founder of SoftBank Group Masayoshi Son is seeking $100 billion to finance a venture for the production of chips for artificial intelligence systems and to compete with Nvidia.
The project, under the codename Izanagi, represents the next major venture of the billionaire, as SoftBank sharply reduces investments in startups. Son plans to create a company that can complement the Arm Holdings chip development division and allow the construction of a chip manufacturing factory for artificial intelligence. This information is reported by informed sources. According to one of the scenarios under consideration, SoftBank will provide $30 billion, and the remaining $70 billion, possibly, will come from institutions in the Middle East.
If successful, this project will be one of the largest investments in the field of artificial intelligence since the emergence of ChatGPT, surpassing Microsoft's recent investment in OpenAI of over $10 billion. Son named the project after Izanagi, the Japanese god of creation and life, in part because it contains the initials of general artificial intelligence.
Details on how the project will be financed, or where the money will be spent, are yet to be determined. Sources say Son is constantly developing numerous investment ideas and strategies to strengthen Arm's access to the artificial intelligence market, and is constantly exploring various types of next-generation chips. It is unclear which company or companies will play a central role in developing the technology needed to challenge Nvidia - undoubtedly the leader in high-performance AI accelerators.
Source: bloomberg
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