SoftBank Eyes Majority Stake in OpenAI-Backed 1X Technologies at $6B
SoftBank's Potential Acquisition of 1X Technologies
Deal Overview
Aug 26 (Reuters) - SoftBank is in talks to buy a majority stake in OpenAI-backed humanoid robot developer 1X Technologies in a deal that would value the startup at about $6 billion, The Information reported on Wednesday, citing people with knowledge of the deal.
Confirmation and Comments
Reuters could not immediately confirm the report. SoftBank declined to comment. 1X did not immediately respond to a Reuters request for comment.
Deal Status and Terms
The talks are ongoing, and the terms could change, the report said.
OpenAI's Involvement with 1X Technologies
Previous Acquisition Discussions
OpenAI and 1X discussed last year the possibility of the ChatGPT-maker acquiring 1X, the report added.
Investment Details
OpenAI invested in 1X in 2023 through its OpenAI Startup Fund, alongside Tiger Global and a group of Norway-based investors.
SoftBank's Broader Robotics Strategy
Expansion in Robotics
The 1X deal builds on SoftBank's broader push into robotics, following its agreement last year to acquire Swiss engineering group ABB's robotics business for $5.4 billion.
Reporting Credits
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Subhranshu Sahu and Muralikumar Anantharaman)
