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News on Medial
SoftBank to log slim profit ahead of Masayoshi son’s next AI bet | Mint
Livemint
·
11m ago
Medial
SoftBank Group is expected to report a net income of ¥1 billion ($6.9 million) for the June quarter, compared to a loss of ¥477.6 billion a year ago. However, this small profit highlights the continued negative impact of loss-making startups on the company's books. SoftBank's stock recently suffered a sharp decline, which could affect its ability to secure financing. Despite this, founder Masayoshi Son is preparing for his next big bet on artificial intelligence, with plans to deploy $100 billion into AI-related chips. The recent acquisition of Graphcore reflects SoftBank's interest in the AI supply chain.
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What’s behind Masayoshi Son’s $100 billion pledge to Donald Trump
Livemint
·
7m ago
Medial
Japanese billionaire Masayoshi Son, CEO of SoftBank Group, has pledged to invest $100 billion in artificial intelligence (AI) and related technologies in the US. Speaking alongside President-elect Donald Trump, Son said the investment would create around 100,000 jobs within four years. However, it remains unclear how Son plans to fulfil the commitment, as SoftBank does not have $100 billion readily available. Son's announcement comes as he seeks to strengthen his relationship with the Trump administration, which could hold significant regulatory power over the tech sector in the coming years.
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SoftBank makes another WeWork bet with debt-equity swap deal
Reuters
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1y ago
Medial
WeWork's $3 billion debt-for-equity swap deal with creditors, spearheaded by top shareholder SoftBank, aims to revive the struggling office-space provider. Success depends on WeWork renegotiating costly long-term leases signed during its rapid expansion, which have become a financial burden. SoftBank has already written down most of its WeWork investment over the years, but it had a credit support deal worth $1.1 billion as of end-June, the status of which remains unclear. WeWork's fall from grace marked a cautionary tale for SoftBank founder Masayoshi Son's appetite for risk.
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SoftBank CEO Masayoshi Son talks up artificial super intelligence ambitions
Economic Times
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1y ago
Medial
SoftBank Group CEO Masayoshi Son has expressed his ambition to realize artificial superintelligence, which he believes will surpass human capabilities by a factor of 10,000. Speaking at the company's annual general meeting, Son stated that SoftBank's mission is to contribute to humanity's progress through advancements in AI. He believes that artificial superintelligence could be achieved within the next decade. Son's aspirations for AI technology revolve around Arm Holdings, a subsidiary of SoftBank Group known for its chip designs used in AI-powered data centers.
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Energising talk on AI, India: Bhavish on meeting SoftBank's Son
Inshorts
·
7m ago
Medial
Ola CEO Bhavish Aggarwal took to X to share pictures with SoftBank CEO Masayoshi Son after they met in Delhi on Wednesday. "Always amazing to meet Masayoshi Son...Such an energising discussion on AI, AGI, Energy and India," he wrote. Son will also reportedly meet Prime Minister Narendra Modi during his visit.
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SoftBank, OpenAI joint venture to offer AI for companies: Masayoshi Son
Economic Times
·
5m ago
Medial
SoftBank Group and OpenAI have announced a joint venture to provide advanced artificial intelligence solutions to businesses. The collaboration is marked by the signing of a memorandum of understanding between the two companies, establishing a 50-50 partnership. This initiative, revealed by SoftBank CEO Masayoshi Son, will introduce a new AI product named Cristal, aiming to enhance AI offerings in various business sectors.
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Arm's bigger brethren? Founder of Softbank seeks $100bn war chest to build AI chip behemoth to rival Nvidia, Intel — but is it too little, too late?
Techradar
·
1y ago
Medial
Masayoshi Son, the founder of Softbank Group, is reportedly planning to launch a $100 billion AI chip company called Project Izanagi that aims to compete with industry leaders like Nvidia, Intel, and AMD. While $30 billion of funding is expected to come from Softbank, the remaining $70 billion may be sourced from Middle Eastern investors. The project will focus on artificial general intelligence (AGI), with synergies anticipated with Softbank's majority-owned chip design business, Arm. Despite potential challenges, Son is confident that AGI will become a reality within the next decade. Softbank has also been rumored to be interested in acquiring UK chip designer Graphcore.
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Masayoshi Son and Sam Altman see no end to AI demand and scaling - The Economic Times
Economic Times
·
11h ago
Medial
Masayoshi Son and Sam Altman foresee endless AI demand, necessitating expanded computing infrastructure. They believe AI advancements will create unforeseen jobs and promote robotics self-evolution. Son and Altman aim to deploy a billion AI agents within SoftBank, exploring robots building other robots. SoftBank plans a substantial investment in AI, including collaborating on the Stargate project for massive AI infrastructure. Their vision has boosted SoftBank's stock, though challenges remain.
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SoftBank’s Son lays out vision to be No. 1 in artificial superintelligence
Livemint
·
19d ago
Medial
SoftBank Group's Chief Executive, Masayoshi Son, has declared his ambition to position the company as the top leader in artificial superintelligence (ASI) within the next decade. Speaking at the annual shareholder meeting in Tokyo, Son emphasized his commitment to ASI, a hypothetical technology surpassing human intelligence. Amid scrutiny due to investment plans, SoftBank aims to capitalize on this futuristic vision to drive innovation and leadership in artificial intelligence.
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Masayoshi Son made $72 billion betting on Jack Ma's Alibaba. Now he wants to do it again with AI.
Business Insider
·
1y ago
Medial
Masayoshi Son, the CEO of SoftBank, made a successful bet on Alibaba, earning a staggering $72 billion gain over 23 years. However, Son has been unwinding SoftBank's stake in Alibaba recently. Now, he is turning his focus to artificial intelligence (AI), believing it will surpass human intelligence. SoftBank has made AI its main focus, with its acquisitions of chip designer Arm and the formation of the Vision Funds. While Arm has seen success, the Vision Funds have experienced mixed results, but SoftBank remains hopeful for future growth in the AI sector.
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SoftBank seeks AI investment as Masayoshi Son plans deal spree after Arm IPO
Economic Times
·
1y ago
Medial
SoftBank is reportedly seeking AI investments as CEO Masayoshi Son plans further deals following the IPO of its chip-designing arm, ARM. Son has expressed his interest in investing in AI, citing its potential to revolutionize industries. The company's Vision Fund, which has already invested in major tech companies like Uber and WeWork, could be used to fund these AI investments.
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