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.

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 infrastructure while increasing its exposure to OpenAI.

OpenAI already has a direct connection to 1X. The ChatGPT developer invested in the company through the OpenAI Startup Fund in 2023, when the fund led a $23.5 million Series A2 round alongside Tiger Global and Norway-based investors including Sandwater, Alliance Ventures and Skagerak Capital.

At the time, OpenAI Startup Fund manager Brad Lightcap described 1X as being at the forefront of using robotics to augment labor, while 1X said the capital would support its work to produce androids at commercial scale.

SoftBank 1X talks follow earlier OpenAI acquisition discussions

Before SoftBank entered the picture, OpenAI itself considered buying the humanoid robot developer.

The Information said OpenAI and 1X discussed a possible acquisition last year, but the talks did not progress to a transaction. OpenAI had already established its financial relationship with the company several years earlier through the startup fund investment.

Founded as Halodi Robotics before adopting the 1X name, the company has been developing humanoid robots intended to operate around people. Its current consumer product, NEO, is designed as a home robot that can perform household tasks and learn new actions through 1X’s Redwood AI model.

The company’s ordering page lists NEO at $20,000 for an early-access purchase, while a subscription version costs $499 per month. U.S. deliveries are scheduled to begin in 2026, followed by an expansion into other markets from 2027.

According to The Information, 1X received more than 10,000 NEO orders during the first week after opening preorders. No units had been delivered to customers at the time of the report.

The publication also reported that 1X sought to raise $1 billion at a $10 billion valuation last fall but secured less than half of the amount it targeted. A transaction with SoftBank at a valuation of about $6 billion would therefore come below the valuation 1X had sought during that fundraising effort.

SoftBank has already committed $5.4 billion to ABB robotics

SoftBank’s discussions with 1X come while the company is working to complete another multibillion-dollar robotics acquisition.

In October 2025, SoftBank signed an agreement to acquire ABB’s robotics business for $5.375 billion. The transaction gives SoftBank 100% of the newly created holding company that will contain the Swiss engineering group’s robotics unit, subject to regulatory approvals and other closing conditions.

SoftBank said at the time that it expected the ABB transaction to close in mid-to-late 2026. The business makes industrial robotic arms and related automation systems, giving SoftBank exposure to a different part of the robotics market from 1X’s consumer-focused humanoid machines.

SoftBank chairman and CEO Masayoshi Son described physical AI as the company’s “next frontier” when the ABB agreement was announced and said the group intended to combine artificial intelligence with robotics technology.

The company’s renewed robotics spending follows an earlier history in the sector that included the Pepper humanoid robot and an investment in Boston Dynamics. The Information reported that SoftBank sold its remaining Boston Dynamics shares in July after previously selling an 80% stake in the robotics company in 2021.

OpenAI has become one of SoftBank’s largest investments

At the same time, SoftBank has continued committing capital directly to OpenAI.

As crypto.news previously reported, SoftBank completed a $10 billion second tranche investment in OpenAI on July 1 through SoftBank Vision Fund 2. The payment formed part of a $30 billion follow-on commitment announced in February, with a third $10 billion tranche scheduled for Oct. 1.

SoftBank said the July investment was financed with $10 billion borrowed under a bridge facility signed in March. Its February investment plan placed OpenAI at a $730 billion pre-money valuation and followed $34.6 billion that SoftBank said it had already invested in the company since September 2024.

The size of the exposure has also tied movements in SoftBank’s shares more closely to developments surrounding OpenAI. Shares in the Japanese group fell more than 12% in June after reports said OpenAI executives were considering delaying a planned public listing until 2027 while seeking to preserve a potential valuation of as much as $1 trillion.

Financing for the AI spending has required SoftBank to use several sources of capital. Earlier in the year, the group reduced the target size of a planned margin loan backed by its OpenAI stake to about $6 billion from roughly $10 billion after banks and private credit funds raised concerns about the structure and valuation of the privately held company.

On Aug. 26, Bloomberg reported that SoftBank was also considering a $10 billion to $20 billion dollar- and euro-denominated bond sale, with part of the proceeds expected to refinance a bridge loan connected to its OpenAI investment. Reuters said it could not independently verify that report.

SoftBank and OpenAI also share a major AI infrastructure project

SoftBank’s financial relationship with OpenAI extends into AI infrastructure through Stargate, which was announced in January 2025 with Oracle and Abu Dhabi-based investment company MGX.

The project was announced with plans for as much as $500 billion of investment in U.S. artificial intelligence infrastructure over four years, starting with an initial commitment of $100 billion. A crypto.news report on Stargate at the time detailed SoftBank and OpenAI’s roles alongside Oracle in the project.

SoftBank has since continued directing capital toward OpenAI as Son concentrates the group’s investment portfolio around artificial intelligence. In its February follow-on investment announcement, the company said it had already invested an aggregate $34.6 billion in OpenAI through Vision Fund 2 since September 2024 before committing the additional $30 billion.

For 1X, meanwhile, the current product rollout remains centered on NEO. The company is accepting $200 refundable deposits for early-access units priced at $20,000, with priority deliveries scheduled in the United States during 2026 and its $499 monthly subscription model expected to ship later.