Arm's bigger brethren? Founder of Softbank seeks $100bn war chest to build AI chip behemoth to rival Nvidia, Intel — but is it too little, too late?

SoftBank Son.

The founder of Softbank Group has reportedly set his sights on a new venture: a $100 billion AI chip company named Project Izanagi which could one day rival the dominance of AI leaders such as Nvidia, Intel and AMD.

According to Bloomberg, Masayoshi Son says $30 billion of the required funding for Project Izanagi, which will focus on artificial general intelligence (AGI), is expected to come from Softbank, with the remaining $70 billion potentially sourced from Middle Eastern investors. However, the specifics of the funding and execution are still under wraps, and the project may undergo further evolution.