(Bloomberg) — SoftBank Group Corp. and its telecom unit will start renting AI computing resources to US companies next fiscal year in a bid to capitalize on the company’s growing pipeline of data center projects.

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The two companies will set up SB Neo Inc. this month, ahead of plans to offer AI chips and cloud services to big companies including hyperscalers, the companies said in a statement Thursday. The neocloud venture plans to ramp up its computing resources to eventually supply data center capacity at a scale of 10 gigawatts by around 2030 for large-scale AI model training and inference, according to Junichi Miyakawa, head of the telecom unit.

Supplying neocloud operations in the US could easily triple or quadruple mobile carrier operator SoftBank Corp.’s annual operating income to the tune of ¥3 trillion to ¥4 trillion ($18.5 billion to $25 billion), according to people familiar with the company’s plans.

The new business, 51% owned by mobile carrier operator SoftBank Corp. and 49% by its parent, has the potential to generate profit “on a different order of magnitude,” Miyakawa said in an interview. “We see this launch in the US as a second founding for our company.”

Japan’s third largest mobile carrier played a foundational role for SoftBank Group, helping Masayoshi Son finance his early successes in venture capital. In recent years, the billionaire’s focus has centered around AI hardware and data centers, part of an ambition to capitalize on insatiable demand for computing power and set the stage for AI’s proliferation throughout society.

Neoclouds — a new category of small infrastructure providers that lease out AI-focused computing power —have emerged to address soaring demand for access to computing capacity. Companies like CoreWeave Inc. and Nebius Group NV are quickly renting the specialized chips their customers need to train and run AI models.

SoftBank’s neocloud operations may have a ready customer in OpenAI, in which the parent company has committed to investing a total that will reach about $65 billion by October.

The field has grown increasingly crowded, however. In addition to dedicated neocloud service providers, industry leaders like Amazon Web Services, Microsoft Azure and Google Cloud also sell access to AI computing power. Meta Platforms Inc. is also developing plans for a similar foray, Bloomberg News has reported.