TechFlow news, according to sources close to the matter, SoftBank Group founder Masayoshi Son is planning to raise $100 billion to establish an AI chip company that will compete with Nvidia and supply essential semiconductors for artificial intelligence.
The project, codenamed Izanagi, aims to create a company that complements its chip design unit Arm Holdings, allowing SoftBank to build an artificial intelligence chip giant, said the sources.
One of the sources mentioned that one option under consideration is for SoftBank to contribute $30 billion, with the remaining $70 billion potentially coming from institutional investors in the Middle East. If successfully raised, this chip initiative would become one of the largest investments in artificial intelligence since the launch of ChatGPT.
