SoftBank’s 1X Technologies Acquisition Talks Value Robot Maker Below $10B Target

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SoftBank is once again betting big on robots. The Japanese investment giant has opened talks to take majority control of 1X Technologies, the OpenAI-backed maker of humanoid robots, in a deal that could value the startup at roughly $6 billion. The potential SoftBank 1X Technologies acquisition, first reported by The Information on Aug. 26 and citing people familiar with the discussions, would mark another significant step in Masayoshi Son’s push to fuse artificial intelligence with physical machines — but it comes at a valuation well below what 1X had hoped to command just months earlier.

Key takeaways

SoftBank is negotiating to acquire a majority stake in 1X Technologies at a valuation near $6 billion, though terms remain unsettled.
1X’s humanoid home robot, NEO, sells for $20,000 with U.S. deliveries starting in 2026, and the company received more than 10,000 preorders in its first week.
1X tried to raise $1 billion at a $10 billion valuation last fall but landed less than half that amount, making SoftBank’s offer a discount to that ambition.
SoftBank is separately closing a $5.375 billion acquisition of ABB’s robotics unit, expected to finalize in mid-to-late 2026.
SoftBank has poured over $34.6 billion into OpenAI since September 2024, with an additional $30 billion follow-on commitment underway.

SoftBank’s Acquisition Talks with 1X Technologies

SoftBank wants control of a robotics company that OpenAI already has skin in. Talks are ongoing, and the terms could still shift before any agreement is signed. Reuters said it could not independently confirm The Information’s reporting, and both SoftBank and 1X declined to comment or did not respond when asked.

What makes this notable isn’t just the dollar figure — it’s the web of relationships involved. A deal would place 1X under a Japanese conglomerate that has already committed tens of billions of dollars to OpenAI, deepening SoftBank’s simultaneous exposure to the AI company and one of its robotics bets.

Negotiation Details and Valuation Dynamics

The numbers tell an interesting story about where 1X stands financially. Last fall, the startup tried to raise $1 billion at a $10 billion valuation but pulled in less than half of that target, according to The Information. If SoftBank’s talks conclude near $6 billion, that would land well under the figure 1X had been chasing — a signal that investor appetite for humanoid robotics startups may be cooling even as the underlying technology draws attention.

OpenAI’s connection to 1X predates any SoftBank interest. The OpenAI Startup Fund led a $23.5 million Series A2 round in 2023 alongside Tiger Global and Norway-based investors Sandwater, Alliance Ventures and Skagerak Capital. At the time, fund manager Brad Lightcap said 1X sat at the forefront of using robotics to extend human labor, while 1X said the money would help it scale android production.

1X’s Humanoid Robot Product and Market Plans

1X, founded originally as Halodi Robotics, builds machines meant to work alongside people rather than in isolated industrial settings. Its flagship consumer product, NEO, is a home robot priced at $20,000 for early access, with a $499 monthly subscription option also available. U.S. deliveries are slated to begin in 2026, followed by expansion into other markets starting in 2027.

Demand appears real: 1X says it logged more than 10,000 NEO orders in the first week after opening preorders. No units had shipped to customers as of the latest reporting, so the company’s ability to actually deliver at scale remains untested.

SoftBank’s Broader Robotics Expansion via ABB Acquisition

The 1X talks aren’t happening in a vacuum. SoftBank is simultaneously working to close a separate, larger robotics acquisition that gives it a foothold in industrial automation rather than consumer hardware.

Details of the $5.375 Billion ABB Robotics Deal

In October 2025, SoftBank signed an agreement to buy ABB’s robotics business for $5.375 billion, taking full ownership of a newly created holding company housing the Swiss engineering group’s robotics unit. The transaction still needs regulatory approvals and other closing conditions, and SoftBank has said it expects the deal to close in mid-to-late 2026.

Strategic Importance in Robotics Market Diversification

ABB’s business makes industrial robotic arms and automation systems — a different corner of the robotics world than 1X’s home-focused humanoid machines. Together, the two deals would give SoftBank exposure across both ends of the robotics spectrum: factory-floor automation and consumer-facing androids. That’s a deliberate hedge, spreading bets across use cases rather than betting everything on one product category.

SoftBank’s Large-scale Investments in OpenAI and AI Infrastructure

None of this robotics activity happens separately from SoftBank’s enormous financial relationship with OpenAI. The company has continued directing capital toward the ChatGPT maker even as it pursues these robotics deals.

Capital Commitments and Valuation

SoftBank completed a $10 billion second tranche investment in OpenAI on July 1 through SoftBank Vision Fund 2, part of a $30 billion follow-on commitment announced in February. A third $10 billion tranche is scheduled for Oct. 1. That July payment was financed with $10 billion borrowed under a bridge facility signed in March. SoftBank’s February plan valued OpenAI at $730 billion pre-money and came after the company had already invested $34.6 billion in OpenAI since September 2024.

This is why the OpenAI investment strategy matters beyond OpenAI itself: SoftBank’s own share price has grown sensitive to OpenAI headlines. Shares in the Japanese group fell more than 12% in June after reports suggested OpenAI executives were weighing a delayed public listing until 2027 while trying to protect a valuation as high as $1 trillion.

Financing this scale of commitment hasn’t been simple. SoftBank earlier trimmed Banks and private credit funds voiced concerns regarding the structure and valuation of the privately held company, prompting a reduction in the planned margin loan backed by its OpenAI stake from roughly $10 billion to approximately $6 billion.

Collaboration on Stargate AI Infrastructure Project

SoftBank and OpenAI’s ties extend into physical infrastructure through Stargate, announced in January 2025 alongside Oracle and Abu Dhabi-based investment firm MGX. The project outlined plans for as much as $500 billion in U.S. artificial intelligence infrastructure investment over four years, starting with an initial commitment of $100 billion. This AI infrastructure collaboration underscores how deeply SoftBank’s fortunes are now tied to OpenAI’s expansion plans, well beyond any single funding round.

SoftBank’s Vision and Industry Positioning in AI-Powered Robotics

Taken together, these moves point to a strategy Son has been building for years: pairing artificial intelligence software with physical machines that can act in the real world.

CEO Masayoshi Son’s Perspective on Physical AI

When the ABB agreement was announced, Son described physical AI as the company’s “next frontier” and said SoftBank intended to combine artificial intelligence with robotics technology. That framing helps explain why a company already carrying tens of billions in OpenAI exposure would also want direct ownership of robot makers rather than just backing the software layer.

Historical and Current Robotics Investments

SoftBank’s robotics history is mixed. The company previously invested in the Pepper humanoid robot and in Boston Dynamics, selling an 80% stake in the latter back in 2021 and offloading its remaining shares this past July. That track record adds some nuance to the current push — SoftBank has walked away from robotics bets before, even as it now moves toward two of its largest robotics commitments yet in 1X and ABB.

Whether the humanoid robot market can deliver on the scale SoftBank is betting on remains an open question. NEO hasn’t shipped a single unit to a paying customer, and 1X’s own fundraising struggles last fall suggest not every investor shares SoftBank’s appetite at these valuations. What’s clear is that SoftBank now has three major fronts — 1X, ABB, and OpenAI — all pulling in the same direction toward a bet that AI and robotics will converge into something commercially decisive.

FAQ

What stake is SoftBank seeking in 1X Technologies?

SoftBank is negotiating to acquire a majority stake in 1X Technologies in a deal valuing the startup at about $6 billion.

What is the price and delivery timeline for 1X Technologies’ NEO robot?

The NEO humanoid robot is priced at $20,000 for early-access with U.S. deliveries scheduled to begin in 2026.

How has OpenAI been involved with 1X Technologies?

The OpenAI Startup Fund led a $23.5 million Series A2 funding round in 1X Technologies in 2023 alongside Tiger Global and Norway-based investors including Sandwater, Alliance Ventures and Skagerak Capital.