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Individuals with insider knowledge of the situation have disclosed that SoftBank Group is actively considering potential acquisitions, with data center operator Switch being one of the key targets, in a bid to enhance its foothold in the artificial intelligence (AI) industry. SoftBank has already commenced talks with Switch's executive team and kicked off the due diligence process. Switch's stakeholders are aiming for a valuation of around $50 billion (inclusive of debt) for the firm. In parallel, they are also gearing up for an initial public offering (IPO) as soon as the beginning of next year. Should the acquisition come to fruition, it would stand as one of SoftBank's most significant transactions to date, bolstering its grip on the crucial infrastructure bottlenecks that are pivotal for AI development.
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