SoftBank is in talks to acquire a majority stake in 1X Technologies, a Norwegian humanoid robot startup backed by OpenAI, at a valuation of roughly $6 billion, according to people familiar with the matter cited by The Information.
The deal would represent a major bet on the humanoid robotics market by SoftBank, which has already agreed to acquire Swiss engineering giant ABB's robotics division. 1X, founded in 2014, has been developing humanoid robots capable of performing physical tasks in real-world environments.
The $6 billion valuation represents a step down from the company's ambitions last fall, when 1X attempted to raise $1 billion at a $10 billion valuation but reportedly secured less than half that amount. The new SoftBank deal would nonetheless provide 1X with significant capital and a strategic partner with deep pockets and robotics ambitions.
1X is backed by OpenAI, which invested in the company as part of its broader push into physical AI and robotics. The startup has been developing robots that can navigate and interact with human environments, positioning itself in the increasingly competitive humanoid robotics landscape alongside companies like Tesla's Optimus, Agility Robotics, and Figure AI.
The deal comes amid a broader surge in robotics investment, with multiple companies and sovereign wealth funds pouring capital into the sector as AI capabilities advance rapidly. SoftBank CEO Masayoshi Son has long been bullish on robotics and AI, and the 1X investment would deepen the company's position in what many see as the next major technology frontier after software and cloud computing.
Neither SoftBank nor 1X have publicly commented on the discussions.
