SoftBank’s $4B DigitalBridge Deal: AI Infrastructure Bet with $16/Share Price

On December 29, 2025, SoftBank Group announced a definitive agreement to acquire DigitalBridge Group Inc. for approximately $4.0 billion enterprise value, paying $16.00 per share in cash. The transaction includes outstanding common stock and has been unanimously approved by DigitalBridge’s Board and a special committee composed only of independent directors. [1][3][5]

DigitalBridge is a major player in digital infrastructure, managing approximately $108 billion in assets as of September 30, 2025. Its holdings span data centers, cell towers, fiber networks, edge infrastructure, and more. [1][3][4] Under the agreement, these assets will enhance SoftBank’s digital infrastructure capacity—strengthening its compute, connectivity, and power backbone critical for large-scale AI models. [1][5]

SoftBank views this acquisition as a piece of its broader pivot toward “physical AI,” tying its AI strategy not just to software, platforms, and model development, but to the tangible infrastructure needed to power AI applications globally. This includes recent moves such as its investment in OpenAI (~$30 billion), participation in the Stargate infrastructure initiative, and divestiture of its Nvidia stake to free up liquidity. [4][5][1]

Financially, the deal offers DigitalBridge shareholders a 15% premium over the closing price on December 26, 2025, and roughly a 50% premium over an earlier 52-week average as of December 4, 2025. [3][4] The transaction is subject to regulatory review. SoftBank appears to expect completion in H2 2026. [1][3][5]

Strategic implications of the deal include:

• Acceleration of SoftBank’s ability to control essential infrastructure for AI, potentially lowering latency and cost for data-center-dependent services and accelerating deployment of cutting-edge AI models worldwide.
• Increased competition pressure on hyperscalers (AWS, Microsoft, Google) by expanding non-cloud-native infrastructure controlled by major investment platforms.
• Risk exposure for SoftBank in infrastructure capex, regulatory environments, and geopolitical risk surrounding data localization, power supply, and environmental concerns tied to large tech infrastructure operations.

Open questions and risk factors to monitor:

• How regulatory bodies in the U.S., European Union, and other jurisdictions will respond—specifically to issues like antitrust, national security, and control of essential infrastructure.
• How SoftBank plans to finance the deal and integrate debt, given that the enterprise value includes debt assumptions or paydowns. [1][5]
• The extent to which SoftBank will preserve DigitalBridge’s culture, talent, and incentive structures given the “separately managed platform” status, especially with an independent leadership team remaining under Marc Ganzi. [1][4]
• How this acquisition fits into the broader AI infrastructure investment landscape over the next 3-5 years: competing build vs. buy strategies by other firms; supply chain constraints (power, land, cooling); and sustainability pressures.