SoftBank seeks $100 billion from Gulf states for AI
Economic Times Techen
SoftBank Group Corp. is in discussions to raise up to $100 billion from Gulf investors for future AI investments. Founder Masayoshi Son has initiated talks with potential investors in the United Arab Emirates and surrounding regions. This proposed fund aims to enhance operations using AI technologies and robots from SoftBank's robotics arm Roze. SoftBank's shares fell recently due to concerns over OpenAI's revenue growth, prompting a reevaluation of investment strategies.
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