SoftBank and Middle Eastern investors raise $100 billion to build AI chip company

SoftBank founder Masayoshi Son reportedly wants to raise $100 billion to build an AI chip business that can compete with Nvidia. The "Izanagi" project could receive $30 billion in investment from SoftBank and $70 billion from Middle Eastern investors. The project is expected to work with chip design company Arm, in which SoftBank holds a 90% stake. However, how the two companies will interact specifically remains undecided.