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The plan is for SoftBank to put $30 billion of its own money into Izanagi and raise $70 billion externally.
The move, along with an investment of $147 million
by Nvidia in Arm’s shares and a bullish Q1 forecast, has boosted Arm’s share price this year from about $70 to around $130.
Izanagi will compete with Nvidia and the rest of the GPU vendors to design and manufacture AI accelerators.
It is not clear whether Izanagi will be working with Sam Altman’s €5-7 trillion project to make AI chips, but Altman and Son have discussed joining forces on an IC manufacturing venture before.
Both Son and Altman are tapping Middle East investors for the money for their projects..
Izanagi and his sister Izanami (pictured), while standing on the bridge of heaven, stirred the primeval oceans to create the first land mass, according to Japanese mythology.
