SoftBank Group Corporation founder Masayoshi Son is reportedly aiming to secure up to $100 billion for a new artificial intelligence (AI) chip venture, codenamed Izanagi, as per a Bloomberg report. The initiative is intended to compete with the current leader in the AI chip space — Nvidia Corporation. Also Read | SoftBank stock rises on CEO Masayoshi Son’s plan for $100 billion AI chip projectIzanagi: Aiming to Build an AI Chip PowerhouseThe project, known as Izanagi, represents Son's significant move into the AI arena as SoftBank scales back its investments in start-ups. Son envisions establishing a company that complements chip design unit Arm Holdings Plc, to build a robust AI chip powerhouse, the report said. The $100 billion total potential funding structure for Izanagi includes $30 billion from SoftBank, with an additional $70 billion potentially sourced from Middle Eastern institutions, sources told the publication.

Source: Mint February 19, 2024 09:03 UTC