SoftBank plans to list Roze in 2026, targeting a valuation of $100 billion

The Financial Times (FT) reported exclusively on April 30 that SoftBank is planning to split and set up a brand-new independent company in the United States called Roze, with business spanning AI robots and data center infrastructure. The company aims to complete an IPO as early as 2026, targeting a valuation of $100 billion. The Financial Times also reported that there are internal doubts within SoftBank about the valuation target and the IPO timeline.

Roze’s business scope and asset composition

According to a Financial Times report dated April 30, Roze is led by Masayoshi Son, with the goal of monetizing SoftBank’s AI-related investments in the form of an IPO. The Financial Times said Roze’s underlying assets include a series of acquisitions SoftBank completed in recent years:

DigitalBridge: Acquired for $3 billion in early 2026, with an investment portfolio including data center assets such as AtlasEdge, DataBank, and Vantage Data Centers

Ampere Computing: U.S. chip designer acquired for $6.5 billion

ABB robot division: Announced acquisition for $5.4 billion

The Financial Times also noted that SoftBank currently holds nearly 90% of Arm Holdings, and details on Roze-related shares are still under negotiation. Bloomberg previously reported that SoftBank had been in talks to acquire data center operator Switch for around $50 billion, but the deal was terminated earlier this year.

SoftBank’s AI investment scale and financing situation

According to the Financial Times report on April 30, the proportion of SoftBank’s AI-related assets to the value of its net assets has risen from about 18% three years ago to over 60%. SoftBank has cumulatively invested more than $41 billion in OpenAI, and in the most recent round it added $30 billion on top of the more than $30 billion it had already put in.

Media reports said that last month, to fund the latest OpenAI investment, SoftBank signed a $40 billion loan agreement—SoftBank’s largest-ever single loan and denominated entirely in U.S. dollars. Separately, media reports said SoftBank obtained a $10 billion margin loan using its OpenAI shares as collateral.

Internal doubts and market challenges

Citing people familiar with the matter, the Financial Times reported on April 30 that there are doubts within SoftBank about Roze’s valuation target and the IPO timeline, with some believing that uncertainty arising from Middle East geopolitical conflict may put pressure on the timing of the listing.

The Financial Times also reported that global investors’ concerns about whether the pace of data center construction is overheating continue to rise. As a valuation reference, Arm’s market value is currently around $140 billion. The termination of talks over the Switch acquisition also implies that there is still a gap in Roze’s asset portfolio.

Frequently asked questions

What is Roze? When does it plan to list?

According to the Financial Times exclusive report on April 30, Roze is a brand-new independent company that SoftBank plans to spin off and establish in the United States. Its business covers AI robot and data center infrastructure, with a goal of completing an IPO as early as 2026 and a target valuation of $100 billion.

What is Roze’s core asset composition?

According to the Financial Times report on April 30, Roze’s underlying assets include: DigitalBridge, acquired for $3 billion (including assets such as AtlasEdge, DataBank, and Vantage Data Centers), Ampere Computing acquired for $6.5 billion, and the ABB robot division announced to be acquired for $5.4 billion.

How much has SoftBank invested cumulatively in OpenAI?

According to media reports, SoftBank has cumulatively invested more than $41 billion in OpenAI, and last month signed a $40 billion loan agreement to fund the latest round of investment. There are also reports that SoftBank obtained a $10 billion margin loan using its OpenAI shares as collateral.