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The project, codenamed Izanagi, aims to build an AI chip factory that would complement Arm Holdings Plc, the chip design company in which SoftBank has a stake in the majority out.
If successful, the chip project will not only dwarf Microsoft’s bet on OpenAI, but will capture nearly a fifth of the global semiconductor market. Named after the Japanese god of creation and life, this project reflects Son’s absolute enthusiasm for artificial general intelligence. Sun has often said that a world filled with machines smarter than humans would be happier.
After a series of setbacks in his investments in the startup, the Japanese businessman saw strong success for ARM. SoftBank shares gained about 30% in the last 10 trading sessions, with ARM shares rising by more than 80%.
Son now sees artificial intelligence as an opportunity to create a company that will rival Wall Street’s “Magnificent Seven” stocks, the people said.
SoftBank had 6.2 trillion yen ($41 billion) of cash and cash equivalents on hand as of December 31, thanks to a rebound in global stock markets. Its balance sheet got a boost from unexpected gains in shares of the company. T-Mobile US (T-Mobile US), which is worth about $8 billion, as well as from the company’s 90% stake in ARM.
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