- SoftBank will acquire DigitalBridge for about $4 billion in cash at $16 per share, a premium to recent trading levels.
- DigitalBridge manages roughly $108 billion of digital infrastructure assets and will continue to operate independently under CEO Marc Ganzi.
- The deal is central to SoftBank’s shift toward owning AI infrastructure—data centers, connectivity, and power—to support its ASI and “Physical AI” strategy.
- The transaction, expected to close in the second half of 2026 pending approvals, faces execution and regulatory risks around critical infrastructure and potential overcapacity.
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SoftBank’s acquisition of DigitalBridge signals a deliberate shift from software-centric AI investments toward control over the physical layer of AI infrastructure. The bid reflects acute awareness that computational capacity, low-latency connectivity, and scalable power are just as critical as model innovation. By incorporating a firm with comprehensive exposure across data centres, fiber, cell towers, and edge infrastructure, SoftBank addresses multiple bottlenecks that could impede AI deployment globally. [4][3]
The $16 per share offer—approved unanimously by DigitalBridge’s independent board committee—provides a modest premium relative to recent trading but a large premium relative to uninfluenced valuations, highlighting how much of the deal value reflects future expectations rather than current earnings. [4][1] Retaining DigitalBridge as a separately managed platform suggests SoftBank values preserving operational autonomy and management’s existing capabilities, rather than folding it into its existing infrastructure units. [4][3]
Strategically, the transaction dovetails with SoftBank’s vision of “Artificial Super Intelligence (ASI)” and its “Physical AI” strategy, which includes Project Stargate (a $500B initiative for AI infrastructure); the deal both feeds into SoftBank’s pipeline of infrastructure and helps mitigate supply-side risks (e.g. power, networking). Yet financing such projects will require sustained capital flows and regulatory approvals given the scale involved. [3]
Key risks and open questions include regulatory hurdles—both in the U.S. (antitrust, foreign control of critical infrastructure) and globally, operational execution (including managing edge and power infrastructure), and falling into potential overcapacity that could result in underutilized assets. SoftBank’s ability to integrate DigitalBridge’s portfolio into its broader value chain without duplicative costs or internal friction will be critical.
Supporting Notes
- SoftBank agreed to acquire DigitalBridge Group, Inc. for approximately $4.0 billion, via a cash purchase of all outstanding common stock at $16.00 per share. [4][1]
- The offer represents a 15% premium to DigitalBridge’s closing share price on Dec. 26, 2025 and a ~50% premium to its unaffected 52-week average closing price as of Dec. 4. [4][1]
- DigitalBridge manages approximately $108 billion in infrastructure assets focused on data centers, fiber networks, cell towers, small cells, and edge infrastructure. [4][2]
- Following the acquisition, DigitalBridge will continue to operate independently, under current CEO Marc Ganzi. [4][3]
- The deal is expected to close in the second half of 2026, subject to customary regulatory approvals. [4][1]
- Masayoshi Son emphasized the need for “more compute, connectivity, power, and scalable infrastructure” as part of SoftBank’s vision toward AI and ASI platforms. [4][1]
- SoftBank recently sold its entire stake in Nvidia (~$5.8B) to reallocate capital toward OpenAI and broader AI infrastructure efforts; this deal is aligned with those priorities. [3][4]
Sources
- [1] www.digitalbridge.com (DigitalBridge) — 2025-12-29
- [2] www.ft.com (Financial Times) — 2025-12-29
- [3] www.businessinsider.com (Business Insider) — 2025-12-29
- [4] www.investors.com (Investors.com) — 2025-12-29