About $100 billion is being sought by SoftBank's son for an AI chip business, according to Bloomberg.

About $100 billion is being sought by SoftBank's son for an AI chip business, according to Bloomberg.

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According to Bloomberg News on Friday, which cited people with knowledge of the situation, Masayoshi Son, the chief executive officer of SoftBank Group, is seeking to finance up to $100 billion for a semiconductor company that will compete with Nvidia Corp.

According to the study, the Izanagi project is expected to provide semiconductors that are crucial for artificial intelligence (AI).

According to the article, the project would receive $30 billion from the corporation and potentially an extra $70 billion from Middle Eastern banks.

When Reuters reached out to SoftBank outside regular business hours for comment, the company did not immediately respond.

According to LSEG, the Japanese company already owns almost 90% of the British chip designer Arm.

Yoshimitsu Goto, the CFO of SoftBank, stated earlier this month that Arm will soon become essential to AI. Goto has previously referred to Arm's chip designer as "the core of the core" of SoftBank's network of businesses.

In addition to Nvidia's chips, Arm executives stated earlier this month that the business was witnessing increasing demand for its central processors for AI work in data centers.

SoftBank is well-known for its tech investments, making unprecedentedly large bets on businesses with a high degree of conviction.

However, it had taken a conservative stance following the epidemic, when investor appetite for risk was diminished by rising interest rates and plunging prices.

Earlier this month, the Japanese tech investment business saw a profit for the first time in five quarters thanks to an improvement in its portfolio companies. output