SoftBank in talks to buy stake in humanoid developer 1X at US$6 billion valuation: report
The 1X deal builds on SoftBank’s broader push into robotics
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SOFTBANK is in talks to buy a majority stake in OpenAI-backed humanoid robot developer 1X Technologies in a deal that would value the startup at about US$6 billion, The Information reported on Wednesday (Aug 26), citing people with knowledge of the deal.
Reuters could not immediately confirm the report. SoftBank declined to comment. 1X did not immediately respond to a Reuters request for comment.
The talks are ongoing, and the terms could change, the report said.
OpenAI and 1X discussed last year the possibility of the ChatGPT-maker acquiring 1X, the report added.
OpenAI invested in 1X in 2023 through its OpenAI Startup Fund, alongside Tiger Global and a group of Norway-based investors.
The 1X deal builds on SoftBank’s broader push into robotics, following its agreement last year to acquire Swiss engineering group ABB’s robotics business for US$5.4 billion. REUTERS
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