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SoftBank stock rises on CEO’s plan for $100 billion chip project

Livemint · 1y

SoftBank's stock rose as founder Masayoshi Son contemplates creating a $100 billion chip venture for AI-enabling semiconductors. The project, dubbed Izanagi, aims to compete with Nvidia and would complement SoftBank's majority-stake in Arm Holdings. Son is considering providing $30 billion, with the remaining $70 billion coming from Middle Eastern institutions. If successful, the venture would comprise roughly 20% of the global semiconductor market. SoftBank's shares have recently surged, fueled in part by Arm's success and a boost in global equity markets.