SoftBank founder plans $1,000B AI and robotics complex in Arizona
What's the story
SoftBank Group founder Masayoshi Son is planning a $1 trillion industrial complex in Arizona, according to Bloomberg.
The project, dubbed "Project Crystal Land," aims to develop robots and artificial intelligence (AI) technology.
Son hopes to partner with Taiwan Semiconductor Manufacturing Co (TSMC) for this ambitious venture, which would bring high-tech manufacturing back to the US.
Project details
Son's vision for the industrial complex
Son's vision for the industrial complex is to create a manufacturing hub similar to China's Shenzhen.
The park could include production lines for AI-powered industrial robots, among other things.
SoftBank officials have already discussed possible tax breaks with US federal and state government officials, including Secretary of Commerce Howard Lutnick, Bloomberg reports.
Partnership prospects
Role of TSMC in the project
SoftBank is keen on having TSMC play a key role in the project. However, it remains unclear what role Son envisions for them.
The Taiwanese company is already investing $40 billion into US chipmaking factories and has started mass production at its first Arizona factory.
Despite this, a source familiar with TSMC's thinking told Bloomberg that SoftBank's project doesn't impact their plans in Phoenix.
Tech talks
Interest from other tech giants
Along with TSMC, Son is also exploring interest among other tech giants, including Samsung Electronics.
The project has been pitched to executives at the South Korean company.
However, the plans are still in their early stages and depend on support from the Trump administration and state officials for feasibility.
Investment strategy
Series of major investment announcements by SoftBank
The proposed Arizona project comes after a series of major investment announcements by SoftBank this year.
In March, the company announced its acquisition of US semiconductor design company Ampere for $6.5 billion.
In April, it revealed plans to invest up to $40 billion in OpenAI, with as much as $10 billion syndicated to other investors.