SoftBank Group is in talks to acquire a majority stake in OpenAI-backed humanoid robotics startup 1X Technologies in a deal that would value the Norwegian-American company at roughly $6 billion, according to a report by The Information cited by Tech Startups.
A $10 Billion Target Turns Into A $6 Billion Reset
The valuation marks a roughly 40% cut from the target 1X was chasing less than a year ago, when the company sought $1 billion at a $10 billion valuation and ultimately raised less than half of that. If completed, the transaction would give Masayoshi Son control of one of the most closely watched humanoid programs and deepen SoftBank's push to build a robotics empire around its AI infrastructure bets.
1X was founded in Moss, Norway, in 2014 as Halodi Robotics and rebranded in 2023. The company operates between Norway and Sunnyvale, California, and has been backed by OpenAI's Startup Fund since 2023 alongside Tiger Global and Norwegian investors. OpenAI and 1X previously discussed a full acquisition last year without reaching a deal, per The Information.
Home Robotics Is 1X's Contrarian Bet
CEO Bernt Oivind Bornich has positioned 1X differently from most humanoid rivals. Where Tesla's Optimus and Figure AI are chasing factory work, 1X is aiming its bipedal NEO robot at the home, promising folded laundry, brewed coffee and vacuuming, plus a knitted nylon "Neo Gamma" suit designed to reduce injury risk during physical contact with people and pets.
SoftBank's Robotics Empire Grows
For SoftBank, 1X would slot into a much larger strategy. The Japanese conglomerate agreed last year to buy Swiss engineering group ABB's robotics unit for $5.4 billion and has bankrolled multiple physical-AI plays this year, including a $200M Series A for Gravis Robotics and continued backing of humanoid entrants such as Tacta Systems. A majority position in 1X would place a decisive bet on general-purpose robots reaching living rooms before rival architectures.
Reporting based on coverage from The Information and Tech Startups.