SoftBank's Masayoshi Son seeks up to $100bn from Gulf investors for a fund to buy companies and remake them with AI, the FT reports

SoftBank Group chief executive Masayoshi Son is seeking to raise up to $100bn from Gulf investors to fund a new wave of AI investments, the Financial Times reported on 9 October, citing people familiar with the matter, according to Reuters. Son has held discussions in recent weeks with senior figures, including in the United Arab Emirates, Reuters said, citing the FT.

SoftBank would use the money to set up a fund that buys companies and improves their operations with AI and other advanced technologies, the FT reported. No investors are named, and $100bn is a ceiling, not an agreed sum.

Reuters said it could not immediately verify the report, and SoftBank did not respond to its request for comment. The FT's own story is paywalled and was not opened here, so every figure is the FT's, as relayed by Reuters and Billionaires.Africa.

Billionaires.Africa, citing the Financial Times, also reported that Son is seeking to raise as much as $100bn from Gulf investors. The report came days after SoftBank said it had completed its investment in OpenAI, Reuters noted. A fund of this kind would move SoftBank from backing AI developers towards buying businesses and putting AI to work in them.

The Switchboard carried the report in one line on 10 October. This is the full account. The talks may come to nothing.

• Reported Son is seeking up to $100bn from Gulf investors, the FT reported, according to Reuters. Reuters via The Star
• Reported The money would go into a fund that acquires companies and improves them with AI and other advanced technologies, the FT reported, according to Reuters. Reuters via The Star
• Reported Son is seeking to raise as much as $100bn from Gulf investors, according to the Financial Times, Billionaires.Africa reported. Billionaires.Africa