TLDR:
Key Points:
- SoftBank stock rose as CEO Masayoshi Son plans a $100 billion AI chip project.
- The project, code-named Izanagi, aims to compete with Nvidia Corp in the AI chip market.
The Tokyo-based tech investor SoftBank saw a 3.2% increase in its stock after reports of CEO Masayoshi Son’s plan to create a $100 billion chip venture that would provide AI-enabling semiconductors. The project, named Izanagi, would complement Arm Holdings Plc, in which SoftBank holds a majority stake. Son is considering funding from institutions in the Middle East, with SoftBank potentially providing $30 billion. If successful, the chip project would be a major player in the global semiconductor market.
After facing setbacks in start-up investments, Son sees this project as a huge opportunity in the AI sector. SoftBank’s stock has seen a significant increase in recent days, partly due to the success of Arm Holdings. With a strong cash position and investments in various companies, SoftBank is prepared to venture into the AI chip market with the Izanagi project, reflecting Son’s enthusiasm for artificial general intelligence.