SoftBank's Masayoshi Son aims to raise $100 billion for a new AI chip company to rival Nvidia

SoftBank Group founder Masayoshi Son is planning to raise as much as $100 billion for a new AI chip company that could compete with Nvidia, according to Bloomberg. SoftBank is considering raising funds from Middle Eastern investors and backing Arm Holdings Plc, a chip developer that was owned by SoftBank before it went public last year, the report says. Arm CEO Rene Haas, who also sits on SoftBank's board, is advising the new chip venture. These efforts are reportedly separate from talks Son is having with OpenAI CEO Sam Altman about raising billions of dollars to build out the AI infrastructure.