SoftBank Group founder Masayoshi Son is reportedly seeking to raise as much as $100 billion from investors in the Middle East's Gulf region to further expand his massive bet on artificial intelligence.

According to the latest media reports, Son has held in-depth discussions in recent weeks with senior figures in the Gulf region, including the United Arab Emirates (UAE).

People familiar with the matter said SoftBank plans to use the newly raised capital to establish a brand-new fund. The fund will operate differently from previous ones: SoftBank will directly acquire traditional or technology companies and then use cutting-edge AI technology to completely reshape and overhaul their business operations.

Son's urgent turn toward Gulf sovereign wealth, such as Middle Eastern capital, is mainly because SoftBank's debt-raising capacity is approaching its limit. Just last month, SoftBank issued as much as $11.1 billion in high-yield corporate bonds, or junk bonds, to fund its investment in OpenAI, setting a record for the largest borrowing of its kind by a global technology company.

SoftBank has already poured a total of $64.6 billion into ChatGPT parent OpenAI, holding roughly a 13% stake. However, because OpenAI announced it would delay its initial public offering (IPO) until 2027, SoftBank is unable to cash out in the short term through the secondary market, leaving its cash flow under enormous leverage pressure.