SoftBank Group In Talks To Borrow $16 Billion To Fund Artificial Intelligence

Softbank Group chief executive officer Masayoshi Son plans to borrow $16 billion to invest in artificial intelligence (AI), the company’s executives told banks last week, The Information tech news Web site reported on Saturday, citing people familiar with the matter.The Japanese technology investor might borrow another $8 billion early next year, the report added. It was reported in January that Softbank is in talks to invest up to $25 billion in ChatGPT owner OpenAI, as the Japanese conglomerate continues to expand into the sector.Softbank’s investment would be on top of the $15 billion it has already committed to Stargate, a private sector investment of up to $500 billion for AI infrastructure — funded by Softbank, OpenAI and Oracle Corp — to help the US stay ahead of China and other rivals in the global AI race.The Information — a tech industry-focused publication headquartered in San Francisco — previously reported that Softbank was planning to invest a total of $40 billion into Stargate and OpenAI, and had begun talks to borrow up to $18.5 billion in financing, backed by its publicly-listed assets.Separately, Arm Holdings PLC is set to sign a pact next week to establish a base in Malaysia, the Malaysian news agency Bernama reported on Friday, citing Malaysian Prime Minister Anwar Ibrahim. Anwar had a discussion with Arm chief executive officer Rene Haas on Friday, he told reporters in Putrajaya, Malaysia. Son also took part in the meeting, he said.More on Softbank’s AI funding ambitions on Taipei TimesUPCOMING INTERVIEW ON THE (A)BSOLUTELY (I)NCREDIBLE PODCASTI’m expanding the (A)bsolutely (I)ncredible Podcast to include interviews with thought leaders who are passionately working on revolutionary transformation, powered by AI.On the inaugural episode, I welcome Theodora Lau, the Founder of Unconventional Ventures, and author of a the new book being published by Palgrave Macmillan.Banking on (Artificial) Intelligence: Navigating the Realities of AI in Financial Services. Theodora has been recognized as one American Banker’s Top 20 most influential women in Fintech, and the host of the amazing One Vision Podcast.Click Here To Buy Theodora’s Book, Banking On (Artificial) IntelligenceAs an author of multiple books on the future of finance this should be an interesting and insightful interview thats available to all our Neural News Network subscribers.If you would like your executive, brand, or product featured on the all new (A)bsolutely (I)ncredible Podcast please message Bruce Burke directly for additional information.Click Here To Buy Theodora’s Book, Banking On (Artificial) IntelligenceThats all for today, but AI is moving fast - like, comment, and subscribe for more AI news! Thank you for supporting my partners and I — it’s how I keep Neural News free. Get full access to Neural News Network at remunerationlabs.substack.com/subscribe