SoftBank eyes majority stake in OpenAI-backed 1X at $6 billion valuation

SoftBank has entered talks to acquire a majority stake in OpenAI-backed humanoid robot developer 1X Technologies in a deal that could value the startup at about $6 billion. Summary SoftBank is reportedly in talks to acquire a majority stake in humanoid robot maker 1X Technologies at a valuation of about $6 billion. OpenAI invested in 1X in 2023 and discussed potentially acquiring the robotics startup last year. The talks follow SoftBank’s $5.4 billion agreement to acquire ABB’s robotics business, which is expected to close in 2026. SoftBank has also committed tens of billions of dollars to OpenAI while expanding its investments in AI infrastructure and robotics. The Information reported on Aug. 26, citing people familiar with the discussions, that SoftBank is negotiating for control of the robotics company, though talks remain ongoing and the terms could still change. Reuters said it could not independently confirm the report, while SoftBank declined to comment and 1X did not immediately respond to its request for comment. A potential agreement would bring 1X under a Japanese investment group that has committed tens of billions of dollars to artificial intelligence companies and in...