Analysis of SoftBank's Strategic Intentions and Industry Impact of Acquiring DigitalBridge

I will provide a detailed analysis of the strategic intentions and industry impact of SoftBank’s acquisition of DigitalBridge, a major transaction.

SoftBank Group announced the acquisition of data center investment firm DigitalBridge for

, with an acquisition price of $16 per share, representing a over the closing price on December 26. The transaction has been unanimously approved by DigitalBridge’s board of directors and is expected to close in the [1].

DigitalBridge is a leading company focused on digital infrastructure investment, managing approximately

in assets as of the end of September, with an investment portfolio covering several well-known data center operators, including AIMS, AtlasEdge, DataBank, Switch, Vantage Data Centers, and Yondr Group, among others [1].

SoftBank’s move shows a profound shift in its AI strategy—from investing in AI applications to extending upstream to physical infrastructure. SoftBank CEO Masayoshi Son clearly stated that this acquisition will “strengthen the foundation of next-generation AI data centers” and advance the company’s vision of becoming a “leading super AI platform provider” [1]. Notably, SoftBank recently sold NVIDIA shares worth

to reallocate funds; Son expressed “pain” about this but believed it was necessary to reallocate resources to AI infrastructure investments [1].

Against the backdrop of explosive growth in global AI computing power demand,

has become a strategically scarce resource. Through the acquisition of DigitalBridge, SoftBank can:

• Directly control
  key data center assets and operational capabilities
• Gain
  professional management teams
  and
  operational experience
  in the digital infrastructure field
• Occupy a
  strategic high ground
  in the global AI computing power competition

SoftBank has committed an investment of up to

to OpenAI [1]. Acquiring DigitalBridge can provide underlying computing power support for these AI applications, forming a :

• Application layer
  : AI companies such as OpenAI
• Infrastructure layer
  : DigitalBridge’s data center assets
• Capital layer
  : SoftBank’s investment and allocation capabilities

Global data center M&A activity reached a

in 2025. As of November, data center-related investments (including mergers and acquisitions, asset sales, and equity investments) have approached , exceeding the 2024 record of [3]. This indicates that the industry is experiencing an unprecedented wave of consolidation:

:

• BlackRock
  spent
  $400 billion
  to acquire Aligned Data Centers (a consortium consisting of BlackRock Global Infrastructure Partners, MGG, Microsoft, NVIDIA, xAI, etc.) [3]
• Oracle
  agreed to provide approximately
  45000 MW
  of computing capacity to OpenAI, with the total value of the related long-term cooperation reaching
  $3000 billion
  [1]
• SoftBank
  acquired DigitalBridge for
  $4 billion
  [1]

Data shows that the transformative potential of AI is driving investments of

, covering R&D, capital projects, partnerships, and acquisitions [3]. This investment scale indicates:

• The market demand for AI infrastructure is
  far from saturated
• Large tech companies are
  accelerating the seizure
  of infrastructure resources
• Data centers have become the
  core battlefield
  of AI competition

The strategic position of data centers has undergone a fundamental change:

• In the past
  : Data centers were regarded as optional investments in real estate and infrastructure
• Now
  : Data centers are
  indispensable infrastructure
  in the AI era, becoming strategic resources for national and corporate competition

This transformation has driven up valuations and transaction premiums; the 15% premium offered by SoftBank reflects the market’s

and for such assets.

As a professional digital infrastructure investment company, DigitalBridge has rich operational experience and industry knowledge. SoftBank’s choice to acquire rather than build from scratch indicates:

• Professional capabilities
  are more important than capital
• Management teams
  and
  operational experience
  are core competencies
• Scale effects
  and
  network effects
  are crucial in the infrastructure field

Digital infrastructure fields such as data centers, communication towers, fiber optic networks, and edge computing will continue to attract large amounts of capital. Investors should focus on:

• Data center REITs
  : Such as Equinix, Digital Realty, etc.
• Infrastructure funds
  : Private and public funds focused on digital infrastructure
• Relevant equipment suppliers
  : Power equipment, cooling systems, network equipment, etc.

With a large amount of capital inflow, the valuation of data center assets is rising rapidly. Investors need to:

• Carefully evaluate
  the long-term cash flow generation capacity of assets
• Pay attention to operational risks such as
  regional power supply
  and
  energy costs
• Be aware of asset depreciation risks caused by
  technological iteration

AI infrastructure construction is a

, not a short-term bubble. It is expected that by 2026, the AI industry will move from the early layout stage to the key construction stage, which will bring to infrastructure providers [2].

SoftBank’s acquisition of DigitalBridge marks a new stage in the competition for AI infrastructure. As tech giants such as OpenAI, Microsoft, NVIDIA, and xAI lock in data center resources through mergers and acquisitions and partnerships, digital infrastructure has become one of the most critical strategic assets in the AI era. This trend will continue in the coming years, bringing structural opportunities to investors while also requiring vigilance against valuation bubbles and operational risks.

For the Chinese market, this trend is also worthy of attention. With the rapid development of the domestic AI industry, the demand for data centers and computing power infrastructure will also experience explosive growth, and investment opportunities in related fields are worthy of in-depth research and layout.

---

[1] Yahoo财经香港 - 軟銀斥資40億美元收購DigitalBridge 搶攻AI基礎設施商機 (https://hk.finance.yahoo.com/news/軟銀斥資40億美元收購digitalbridge-搶攻ai基礎設施商機-143235559.html)

[2] Yahoo财经香港 - Wedbush 2026年十大科技投資預測 (https://hk.finance.yahoo.com/news/wedbush-2026年十大科技投資預測-ai成轉折點-蘋果夥手google-輝達與特斯拉成焦點-080006592.html)

[3] Yahoo Finance - M&A: An Overlooked ETF Investing Zone of AI Boom? (https://finance.yahoo.com/news/m-overlooked-etf-investing-zone-160000088.html)

[4] Yahoo Finance - M&A boomed this year: Here were top 5 mega-deals of 2025 (https://finance.yahoo.com/news/m-boomed-this-year-here-were-top-5-194817836.html)