Masayoshi Son Claps Back at Musk on Stargate: ‘We Are Not the Bank; We Are SoftBank’

In a recent conversation with OpenAI chief Sam Altman, founder Masayoshi Son addressed concerns raised by X chief Elon Musk about SoftBank’s financial capacity to support ambitious projects like Stargate.

Son reassured that SoftBank is committed to making the project happen, stating, “We are not the bank; we are SoftBank. I have no doubt we will make it happen.”

When the US government launched Project Stargate, Musk questioned SoftBank’s financial strength, saying, “They don’t actually have the money,” and claiming that SoftBank had well under $10 billion secured. “I have that on good authority,” he added.

Son also highlighted the potential of emerging technologies, suggesting that the future of AI-driven communication will go beyond text-based interactions. He envisions a world where Cristal (SoftBank’s new AI system) can understand voice tones and facial expressions. 

“You just talk, and it sees you. It sees your face and understands the tone of your voice… That’s really happening very, very soon,” he said.

Moreover, Son discussed AI’s exponential value-creation potential. “The returns on linearly increasing intelligence are exponential in terms of value,” he noted, acknowledging that significant capital expenditures are required. “The revenue follows the same trajectory.”

Project Stargate is a $500 billion AI infrastructure initiative backed by tech leaders, including Oracle CTO Larry Ellison, Son, and Altman. An initial $100 billion investment will be deployed immediately. 

The initiative is expected to reinforce the US’ leadership in AI, create hundreds of thousands of jobs, and contribute to global economic growth, with a strong focus on national security measures for the US and its global partners.

Meanwhile, SoftBank Group recently announced a partnership with OpenAI to develop and market an enterprise AI solution called Cristal Intelligence. “Cristal Intelligence will securely integrate enterprise systems and data, offering customised solutions for each company,” SoftBank stated in its announcement.

SoftBank also revealed plans to invest $3 billion annually to deploy OpenAI’s solutions across its portfolio companies, including chip design giant Arm.