SoftBank is in talks to acquire a majority stake in humanoid robot manufacturer 1X at a $6 billion valuation.
1 hours ago
According to The Information, sources familiar with the matter disclosed that SoftBank is negotiating to acquire a majority stake in startup 1X Technologies, an OpenAI-backed humanoid robot development firm. The deal would value the company at roughly $6 billion. The investment will advance SoftBank’s ambitions in the robotics space while providing 1X with more capital to deploy its flexible-body design robots into consumers’ homes to assist with household chores. The 12-year-old startup tried to raise $1 billion at a $10 billion valuation last fall but reportedly secured less than half of that target. SoftBank CEO Masayoshi Son has long been an investor and owner of robotics developers. He has predicted that physical devices combining robotics technology and artificial intelligence will spawn the next trillion-dollar company. Another sign: OpenAI and 1X were reportedly in talks last year about a potential acquisition of 1X, but the negotiations ultimately fell through.
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