Arm’s bigger brethren? Softbank’s founder is looking for a $100 billion war chest to build an AI chip giant that can compete with Nvidia and Intel – but is it too little, too late?

The founder of Softbank Group reportedly has his sights set on a new venture: a $100 billion AI chip company called Project Izanagi, which could one day rival the dominance of AI leaders like Nvidia, Intel and AMD.

According to BloombergMasayoshi Son says that $30 billion of the required funding for Project Izanagi, which will focus on artificial general intelligence (AGI), is expected to come from Softbank, while the remaining $70 billion may come from Middle Eastern investors . However, the details of the financing and implementation are still unclear and the project may undergo further evolution.