SoftBank Group (SFTBY) founder Masayoshi Son is seeking as much as $100B to build a chip venture to compete with Nvidia (NVDA) and supply semiconductors essential for AI, people with knowledge of the matter told Bloomberg’s Gillian Tan, Min Jeong Lee and Ian King. The project, code-named Izanagi, marks Son’s next big endeavor as SoftBank sharply curtails startup investments, says the report, which adds that Son envisions creating a company that can complement chip design unit Arm Holdings (ARM) and allow the billionaire to build “an AI chip powerhouse.”
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SFTBY:
- SoftBank-backed Cohesity to acquire Veritas’ data security arm, Reuters says
- SFTBY Upcoming Earnings Report: What to Expect?
- Invitae working with advisors to prepare for bankruptcy, WSJ reports
- T-Mobile might be best telecom stock for 2024, Barron’s says
- EWJ: Japanese Stocks Look Well-Positioned for Gains in 2024