SoftBank Group is planning to spin off a new AI robotics and data center company called Roze in the United States. According to an exclusive report by the Financial Times, the company could go public as early as 2026 with a target valuation of $100 billion.
Three years ago, AI-related assets accounted for just 18% of SoftBank's net asset value. That figure now exceeds 60%. Masayoshi Son shows no sign of slowing down, seeking a salable AI chip.
What Is Roze: Son's Asset Monetization Vehicle
The spin-off is designed to cash out SoftBank's massive AI investments through a public listing. Roze's underlying portfolio is built from recent acquisitions: in early 2026, SoftBank bought DigitalBridge for $3 billion, gaining stakes in AtlasEdge, DataBank, Switch, and Vantage Data Centers. Earlier, it purchased chip designer Ampere Computing for $6.5 billion and ABB's robotics division for $5.4 billion.
SoftBank holds nearly 90% of Arm Holdings. Based on Arm's experience, SoftBank tends to retain majority control after an IPO. Insiders say stake details are still under negotiation. For context, Arm's current market cap is about $140 billion. Roze must convince investors it is worth $100 billion before it even operates independently.
$41 Billion Bet: A Debt-Fueled AI Empire
SoftBank's cumulative investment in OpenAI now exceeds $41 billion. In the latest round, it added another $30 billion on top of more than $30 billion already poured in. To fund the new investment, SoftBank signed a $40 billion loan agreement last month — the largest single dollar-denominated borrowing in its history. It also pledged OpenAI shares as collateral for a $1 billion margin loan.
SoftBank pushed AI holdings from 18% to over 60% in three years, fueled by external debt. A successful Roze IPO would provide cash to recycle into Son's next bets.
Internal Doubts: Can the Valuation Hold?
Not everyone inside SoftBank is convinced. Sources tell the FT that concerns exist over Roze's valuation target and IPO timeline. Geopolitical tensions in the Middle East could pressure the listing window. A bigger structural issue looms: global investors increasingly question whether data center construction is overheating. The building boom led by Meta and Amazon is unprecedented, but demand growth may not keep pace.
Another wrinkle: SoftBank's talks to acquire data center operator Switch for around $50 billion collapsed earlier this year. That leaves a gap in Roze's asset portfolio, making the $100 billion valuation a direct target for skepticism.