AI Chip Race Accelerates, Additional $10 Billion Investment
Japanese billionaire and SoftBank CEO, Masayoshi Son, has announced the launch of a new AI chip venture named ‘Project Izanagi‘, with efforts to secure a $10 billion investment.
The primary goal is to provide stiff competition in the AI chip market, an area currently dominated by major players. While Masayoshi Son did not divulge further details, he did mention that they are commencing this project in collaboration with Arm Holdings, a renowned company in the field.
In this venture, SoftBank will contribute $30 billion, while the remaining $70 billion will come from investors or accredited companies in the Middle East. Technical analysts are hailing it as the largest AI chip project to date, with some individuals considering it a bold step laden with risks.
According to the announcement, this is a major initiative by Artificial and General Intelligence (AGI) that aims to bear fruit in the next decade.
It’s evident that major corporations worldwide are vying to tap into the gold mine of AI. Numerous alliances are forming, and investment and research efforts are ongoing.”
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