SoftBank is in talks for control of humanoid robot maker 1X at a 6 billion dollar valuation
SoftBank is negotiating to acquire a majority stake in 1X Technologies, a humanoid robot developer backed by OpenAI, at a valuation of about 6 billion dollars. The ongoing discussions could still change, and neither SoftBank nor 1X has commented on the negotiations. The potential deal builds on SoftBank's earlier robotics acquisitions and highlights increasing interest in human-like automation.
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Valuation and negotiations
SoftBank is currently in discussions to take a majority stake in 1X Technologies, an artificial intelligence and robotics developer. The ongoing talks reportedly value the humanoid robot maker at about 6 billion dollars. The conditions of the potential acquisition are not finalized and the terms could still change before any agreement is reached. The companies involved, including SoftBank Group and 1X, have not publicly commented on the negotiations, and independent reports have not immediately confirmed the exact structure of the deal.[1], [2]
OpenAI backing
The robotics company previously secured significant backing from OpenAI, which invested in 1X in 2023 through its Startup Fund alongside Tiger Global and other investors based in Norway. The relationship between the two entities was close enough that they had discussed a possible acquisition of 1X by OpenAI last year, though that deal did not materialize. The developer continues to integrate advanced language models into its robotic platforms.[1], [2]
Broader robotics push
A successful investment would fit into a broader pattern of robotics acquisitions by SoftBank as the market for physical automation expands. The conglomerate previously agreed to acquire the robotics business of the Swiss engineering group ABB for 5.4 billion dollars last year. Market analysts suggest that securing a humanoid platform like 1X would provide SoftBank with a dedicated vehicle to capture value from the intersection of generative artificial intelligence and physical robotics.[1], [2]
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