SoftBank Group CEO Masayoshi Son, has come under-fire from Elon Musk after reports that the Japanese tech company is seeking a $16 billion in funding to fuel AI expansion.
According to sources, SoftBank is in talks to secure the massive loan, with the possibility of extending borrowing by an additional $8 billion in 2026.
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It’s not the first time Musk has questioned concerns about the validity of the financing for the ambitious Stargate AI project.
The initiative aims to position SoftBank as a dominant force in artificial intelligence, competing with Chinese tech giants in the race for AI supremacy.
Earlier this year, Musk questioned SoftBank’s ability to secure the necessary funds for its AI ventures, commenting, “SoftBank had well under $10 billion secured” and added, “They don’t actually have the money. I have that on good authority.”
SoftBank’s aggressive AI investment strategy is part of a broader push into the U.S. technology sector.
At the end of last year, former President Donald Trump announced that SoftBank would invest up to $100 billion over four years in U.S. companies, with a particular focus on the AI industry.
At the time Son commented: “I would really like to celebrate the great victory of President Trump. My confidence level in the economy of the United States has tremendously increased with his victory. So, because of that, I'm now excited to commit this $100 billion and 100,000 jobs into the United States.”
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