SoftBank in talks to buy stake in 1X at $6 billion valuation, The Information reports

Aug 26 (Reuters) - SoftBank is in talks to buy a majority stake in OpenAI-backed humanoid robot developer 1X Technologies in a deal that would value the startup at about $6 billion, The Information reported on Wednesday, citing people with knowledge of the deal.

Reuters could not immediately confirm the report. SoftBank Group and 1X did not immediately respond to Reuters requests for comment.

The talks are ongoing, and the terms could change, the report said.

OpenAI and 1X last year discussed the possibility of the ChatGPT-maker acquiring 1X, the report added.

OpenAI invested in 1X in 2023 through its OpenAI Startup Fund, alongside Tiger Global and a group of Norway-based investors.

The 1X deal builds on SoftBank's broader push into robotics, following its agreement last year to acquire Swiss engineering group ABB's robotics business for $5.4 billion.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Subhranshu Sahu)