The CEO of SoftBank, Masayoshi Son, emphasized the enormity of the current AI revolution, claiming it dwarfs the dot-com boom of the early 2000s by a factor of fifty. Speaking with CNBC in Paris, Son detailed the company’s ambitious commitment of 75 billion euros, or approximately 87 billion dollars, to establish AI infrastructure across France. This investment will yield an impressive 5 gigawatts of AI data center capacity.
Son characterized the AI transformation as a pivotal moment in technological advancement, akin to the early days of the internet. He reflected on past market corrections, such as the dot-com crash, positing that while corrections occur, they often precede significant long-term growth. He drew parallels with historical events like the 1929 Wall Street crash, highlighting that sectors like electronics and automotive eventually rebounded strongly over the following century.
Addressing concerns about SoftBank’s investment exposure, Son clarified that while OpenAI constitutes just over 20% of the firm’s net asset value, its primary asset is British semiconductor design company Arm, which represents over 50%. He expressed confidence in OpenAI’s trajectory and hinted at the company’s potential initial public offering.
In addition to its investment in AI, SoftBank’s plan includes constructing 3.1 GW of AI data centers in northern France—specifically in Dunkirk, Bosquel, and Bouchain. This marks SoftBank’s most significant AI infrastructure investment in Europe to date. Following the announcement, shares of the Tokyo-listed company surged by 14%.
Son noted the compatibility of this initiative with broader strategic goals, indicating that the U.S. expansion in AI infrastructure would help position France as a key European hub for AI technology. Financing for this project will primarily come from external partnerships rather than SoftBank’s own capital, underscoring the firm’s strategy of leveraging existing customer relationships to secure significant purchase agreements.
Further solidifying its presence in France, SoftBank has partnered with Schneider Electric, a French engineering firm, to develop a large-scale industrial production hub in Dunkirk, aligning with their long-term vision of advancing AI infrastructure across Europe.
