SoftBank Plans $100B AI Chip Venture to Rival Nvidia, Seeking Funding from Middle East
- SoftBank planning a $100B AI chip venture, codenamed Izanagi, to compete with Nvidia
- Seeking $30B from SoftBank, $70B from Middle East institutions
- Comes as SoftBank pivots from funding startups to focus more on semiconductors
- News sent SoftBank share price up nearly 5%
- Altman also seeking Middle East backing for his AI chip venture, sparking government reviews