Japan’s SoftBank Group plans to enhance its power generation operations, primarily in the United States, to support global generative artificial intelligence projects, founder Masayoshi Son announced in June 2024.

SB Energy, backed by SoftBank Group, focuses on developing and running renewable energy projects across the United States.

Son also indicated that the group would be seeking new investment opportunities, mostly outside Japan.

This announcement was made during the annual shareholder meeting of SoftBank Corp, SoftBank Group’s telecom division, where Son is a board member.

Earlier this year, Son disclosed his extensive AI ambitions, aiming to establish a $100 billion AI chip company to compete with Nvidia’s dominance. According to Bloomberg, SoftBank intends to invest $30 billion of its own capital into the venture and is looking to raise an additional $70 billion from Middle Eastern investment firms.