SoftBank reportedly seeks up to $100B from Gulf investors for AI fund

Up to $100 billion. SoftBank founder Masayoshi Son has held talks in recent weeks with senior Gulf figures, including in the UAE, for a fund that would buy companies and overhaul their operations with AI and other advanced technologies. SoftBank's Roze robotics unit is expected to play a central role. The ask matches the scale of SoftBank's 2017 Vision Fund, which raised $100 billion with Mubadala and Saudi Arabia's Public Investment Fund. SoftBank already has a $65 billion OpenAI stake; Vision Fund I showed about $29 billion in cumulative gains as of end-June, and Vision Fund II, which holds OpenAI, showed $20.5 billion. Last month SoftBank raised more than $11 billion in its largest junk-bond sale, at yields up to 9.75%. Net asset value was 72.3 trillion yen at end-June, with a 13% loan-to-value ratio below a 25% ceiling. SoftBank stock had peaked in June as Japan's most valuable by market cap. Contested: The Financial Times reported the Gulf fundraising push. SoftBank declined to comment and has not confirmed the reports. People familiar with the matter said talks are early, the $100 billion figure is an upper target, and there is no guarantee of a deal. After OpenAI revenue came in roughly $20 billion below levels previously signaled, SoftBank shares fell 5% in a day. An Asia-based analyst warned that the chain reaction could deteriorate sharply in a short period. Son has said people who criticize AI are spitting at the sky, and has also called AI extremely dangerous in the hands of bad actors. What is raised, on what terms, and whether Gulf capital commits remain unresolved.