Banking

Softbank’s Masayoshi Son plans $100bn AI chip venture

The project would dwarf Microsoft’s bet on OpenAI and rival market leader Nvidia

In one scenario Son is considering, SoftBank would provide $30 billion, with $70 billion possibly coming from institutions in the Middle East. Photo: Getty Images

SoftBank founder Masayoshi Son’s plans to create a $100 billion chip venture to supply AI-enabling semiconductors.

The news has sent the group’s shares higher as investors watch for a potentially lucrative challanger to Nvidia.

The project, code-named Izanagi, is aimed at building an AI chip venture that would complement Arm Holdings, the chip design company in which SoftBank holds a majority stake.

In one scenario Son is considering, SoftBank would provide $30 billion, with $70 ...