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SoftBank targets Gulf funding for AI
SoftBank Group Japan has announced its intention to raise up to $100 billion from Gulf investors to fund new ventures in artificial intelligence. The goal is to create a fund that invests in existing companies and enhances their operations using modern technologies to improve their operational efficiency. This move follows their previous investments, notably a $30 billion stake in OpenAI. Additionally, the Saudi Investment Fund committed $45 billion in 2017 to the Vision Fund, which at that time raised $100 billion. It remains unclear whether Saudi Arabia will participate in the current funding round.
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