SoftBank Group is in advanced talks to secure billions of dollars for a new artificial intelligence (AI) chip venture, challenging Nvidia’s market dominance in the rapidly expanding AI chip sector.
Sources close to the matter reveal that SoftBank is exploring investment opportunities from Middle Eastern entities, with Abu Dhabi being a potential key investor. The new entity’s primary goal will be to design and develop advanced chips for sophisticated AI applications.
The project, code-named “Izanagi,” is in its early stages, and its details are subject to change as discussions progress. SoftBank has declined to comment on the reported talks.
This initiative comes amid unprecedented demand for AI-specific chips, a market segment led by Nvidia. However, other companies are entering this lucrative domain driven by AI’s pervasive integration across industries.
Masayoshi Son, SoftBank’s founder, has long advocated for AI’s transformative potential. SoftBank’s Vision Fund has invested heavily in AI-centric technologies and companies. The new AI chip venture will operate independently of the existing Vision Fund structure.
