In late 2025, OpenAI and SoftBank Group invested US$500 million each in SB Energy to develop a 1.2-gigawatt AI data center campus in Texas, aligning with OpenAI’s Stargate infrastructure initiative. This partnership enhances SoftBank’s exposure to AI infrastructure, moving beyond mere software and chips. The US$1 billion co-investment could revolutionize SoftBank’s AI-focused investment strategy. As a telecom-backed holding company, SoftBank is pivoting towards an AI-centric platform, with Vision Fund exits and asset repricing as key short-term catalysts. However, high leverage remains a significant risk. Recent considerations regarding acquiring DigitalBridge, which manages US$108 billion in digital assets, align with SoftBank’s AI narrative. Analysts project SoftBank Group to generate ¥8,650.2 billion in revenue by 2028, with potential fair value estimates ranging from ¥342 to ¥22,781 per share, highlighting diverse market perspectives. Investors must weigh risks against the prospects of AI infrastructure for long-term gains.
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