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SoftBank's Son Seeks To Build a $100 Billion AI Chip Venture
An anonymous reader quotes a report from Reuters: SoftBank Group Chief Executive Officer Masayoshi Son is looking to raise up to $100 billion for a chip venture that will rival Nvidia, Bloomberg News reported on Friday, citing people with knowledge of the matter. The project, code named Izanagi, wil...
The project, code named Izanagi, will supply semiconductors essential for artificial intelligence (AI), the report added. But it had adopted a defensive strategy after being hit by plummeting valuations in the aftermath of the pandemic, when higher interest rates eroded investor appetite for risk. It returned to profit for the first time in five quarters earlier this month, as the Japanese tech investment firm was buoyed by an upturn in portfolio companies.
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