In a move that signals the dawn of a “Second Act” for SoftBank Group, founder Masayoshi Son is reportedly preparing to take a newly formed AI-robotics venture public on a U.S. exchange. According to reports on April 29, 2026, the Tokyo-based conglomerate is finalizing plans for what could be one of the most significant technology IPOs of the year. This venture tentatively dubbed “Project Apollo” is designed to merge the generative AI capabilities of the Group’s various investments with physical automation, aiming to create the world’s first truly “intelligent” industrial workforce.
The strategic logic behind the new company is the belief that AI is finally ready to move from the digital screen to the physical world. For years, SoftBank has been a major investor in both AI (through the Vision Funds) and robotics (including its ownership of Berkshire Grey and a significant stake in Symbotic).
This new entity is intended to be the “connective tissue” between these assets. By leveraging the advanced Large Language Models (LLMs) developed by SoftBank-backed startups and integrating them into high-performance robotic hardware, “Project Apollo” aims to solve the “last mile” problem in logistics and manufacturing. The goal is to deploy robots that can not only follow pre-programmed instructions but also perceive, learn, and adapt to changing environments in real-time.
A Return to the U.S. Markets
Choosing a U.S. listing likely on the NASDAQ is a calculated move to capture the premium valuations currently afforded to AI companies in the American market. Following the successful IPO of the chip designer Arm in 2023, Masayoshi Son has regained his confidence in the U.S. public markets as a primary engine for capital.
Analysts suggest that SoftBank is seeking a valuation in the range of $20 billion to $30 billion for the new venture. By listing in the U.S., the company gains access to a deep pool of institutional investors who are increasingly eager to bet on “embodied AI” AI that can interact with the physical world. This listing is also seen as a way to provide SoftBank with fresh “dry powder” to pursue Son’s ambition of building a $100 billion AI chip venture, often referred to as “Izanagi.”
The “Vision Fund” Redemption
For SoftBank, this IPO is about more than just raising capital; it is a quest for reputational redemption. After several years of volatility and high-profile losses within the Vision Funds (such as WeWork), Masayoshi Son has pivoted the Group’s entire focus toward the “AI Revolution.”
The new robotics company will reportedly be seeded with assets and patents from across the SoftBank ecosystem, including intellectual property from Arm and logistics technology from its portfolio companies. This “ecosystem approach” is designed to show investors that SoftBank is no longer just a venture capital firm, but a strategic operator capable of synthesizing disparate technologies into a cohesive global leader.
Strategic Partnerships and the Supply Chain
A key component of the new company’s roadmap is its partnership strategy. Reports indicate that SoftBank is in advanced talks with major e-commerce and automotive players to serve as “anchor clients” for the new robotics platform.
By offering “Robotics-as-a-Service” (RaaS), the company hopes to lower the barrier to entry for smaller firms that cannot afford the massive upfront capital expenditure of full automation. This model allows businesses to pay for “work performed” by robots, similar to how they pay for cloud computing. It’s a move that mirrors the successful strategies of software-as-a-service (SaaS) giants, but applied to physical labor
Listing a company with deep ties to global supply chains in the U.S. also carries geopolitical weight. SoftBank has been carefully navigating the tensions between the U.S. and China, particularly regarding the export of advanced semiconductors. By basing the new company’s headquarters and primary listing in the U.S., SoftBank is signaling its alignment with the Western technological “enclave.”
This move ensures that the new venture can maintain access to the highest-end NVIDIA and Arm-based chips necessary for training its robotic brains hardware that is increasingly subject to strict export controls.
As of late April 2026, Masayoshi Son is once again positioning himself as the chief architect of a future that many still see as science fiction. The listing of this new AI-robotics company represents a $30 billion bet that the “digital arteries” of AI are finally ready to pulse through the mechanical limbs of a new industrial age.
If successful, the IPO will not only solidify SoftBank’s comeback but will also set a new benchmark for how AI and robotics are valued on the global stage. For Masayoshi Son, this isn’t just another trade; it is the culmination of a decade-long vision to be the foundation upon which the automated world is built. The markets are watching, and the robots are almost ready.
