SoftBank negotiates $6 billion majority stake in 1X Technologies

SoftBank Group is in negotiations to acquire a majority stake in 1X Technologies, an OpenAI-backed developer of humanoid robots. The deal could value the startup at approximately $6 billion. This potential acquisition aligns with Masayoshi Son’s strategy to integrate artificial intelligence with physical robotics, following SoftBank’s recent agreement to acquire ABB’s robotics unit for $5.375 billion.

1X Technologies, which produces the NEO humanoid robot, received significant backing from OpenAI’s Startup Fund in 2023. While OpenAI previously explored acquiring the company, SoftBank is now moving to secure control. The deal comes amid a surge in the humanoid robot market, with shipments reportedly increasing significantly year-over-year.

Separately, SoftBank is managing complex financing for its massive AI commitments. The group is reportedly seeking an additional $10 billion loan secured against its stake in OpenAI. This follows a previous $10 billion loan closed in August and a broader strategy to use its significant AI-related assets to secure liquidity for its ongoing investments in AI infrastructure and robotics.