Market Chatter: SoftBank Negotiating Majority 1X Technologies Stake Acquisition

MT Newswires Live08-27 18:09

SoftBank is negotiating the purchase of a majority stake in OpenAI-backed 1X Technologies, potentially valuing the latter at around $6 billion, The Information reported Wednesday, citing sources familiar with the matter.

Discussions are ongoing and deal terms remain subject to change, sources told the news outlet.

OpenAI also had takeover talks with 1X Technologies last year, but negotiations fell through, The Information further wrote. OpenAI is a Microsoft-backed (MSFT) company.

SoftBank and 1X Technologies did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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