SoftBank in talks to buy 1X at $6 billion valuation

SoftBank is in talks to acquire a majority stake in OpenAI-backed humanoid robot developer 1X Technologies in a deal valuing the startup at about $6 billion, The Information reported Wednesday, citing people with knowledge of the deal.

The talks are ongoing and terms could change, the report said. SoftBank declined to comment, and 1X did not immediately respond to a request for comment. Financial advisers on either side have not been disclosed.

The potential acquisition would mark a significant escalation of SoftBank's robotics ambitions. The Japanese conglomerate agreed last year to acquire Swiss engineering group ABB's robotics business for $5.4 billion, and CEO Masayoshi Son has repeatedly said robots combined with artificial intelligence would create the next trillion-dollar company. A majority stake in 1X would give SoftBank control of a startup developing humanoid robots designed for household chores, a segment Son has identified as a key growth area.

OpenAI and 1X discussed the possibility of the ChatGPT-maker acquiring the startup last year, but the talks collapsed, according to The Information. OpenAI invested in 1X in 2023 through its Startup Fund alongside Tiger Global and a group of Norway-based investors. The 12-year-old startup attempted to raise $1 billion at a $10 billion valuation last fall but raised less than half of that target.

The $6 billion valuation represents a substantial premium over the $820 million valuation 1X commanded in January 2025, reflecting surging investor interest in humanoid robotics. The sector has drawn heavy investment from technology giants including Nvidia and Tesla, which are developing competing humanoid platforms.

1X's home robot NEO has accumulated 10,000 preorders but has not yet delivered a single unit to customers, raising questions about the company's production readiness. The startup uses a flexible body design for its robots, differentiating it from competitors that use more rigid structures.

The deal, if completed, would deepen the competitive rivalry between SoftBank and OpenAI in the robotics space. OpenAI had previously explored acquiring 1X itself, and the ChatGPT-maker remains an investor in the startup through its Startup Fund. SoftBank's control of 1X could complicate OpenAI's access to the humanoid platform for its own AI integration efforts.

For SoftBank, the acquisition would complement its existing robotics portfolio and provide a consumer-facing product line to pair with its industrial robotics business from ABB. The company has been repositioning its investment strategy around artificial intelligence and physical robotics, with Son describing the combination as the next major technology cycle.

This article is for informational purposes only and does not constitute investment advice.