Masayoshi Son seeks $100B Gulf backing for AI robotics upgrades
Business
SoftBank's Masayoshi Son is aiming to raise $100 billion from Gulf investors to launch a fund that helps traditional companies upgrade with AI and robotics.
This comes amid his huge $65 billion commitment to OpenAI, showing he's still all-in on the future of artificial intelligence.
Fund targets established firms lacking automation
Instead of backing tech startups like before, this fund will target established businesses that haven't automated yet.
Son is talking with big Middle Eastern investors, especially in the United Arab Emirates.
Roze is expected to play a central operational role in transforming acquired targets.
It's a bold move as SoftBank faces pressure to boost its financials and defend its massive OpenAI investment.