The initiative aims to create 100,000 jobs and focus on advancing artificial intelligence (AI) and related infrastructure projects.
The funding will likely come from various SoftBank-controlled entities, including the Vision Fund, capital projects, and chipmaker Arm Holdings, in which SoftBank holds a majority stake. Some of the funds may not be newly raised but could include previous investments, such as SoftBank’s recent $1.5 billion funding into OpenAI, the company behind the ChatGPT chatbot.
Earlier, Son met Prime Minister Narendra Modi in New Delhi on November 27, as part of his visit to India, where he also engaged with several entrepreneurs from SoftBank’s portfolio.
SoftBank Group founder has a plan to make India the chip capital of the world as AI resets the technology landscape, said founders and senior executives he interacted with. Son’s plans include involving Arm Holdings to help India churn out 1 million chip designers by tying up with universities and institutions.
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The Japanese investor reported a nearly $8 billion profit for the July-September quarter, its highest in over two years, driven by successful IPOs from Indian portfolio firms FirstCry and Ola Electric.
