Masayoshi Son, Founder, SoftBank Group Corp, stated in the company’s annual meeting that he is ready to make his next big tech bet. He suggested the large Japanese conglomerate is set on majorly investing in AI. He added the investment firm had to take more risks in the sector, as AI development continues to accelerate.
Son also stated SoftBank will ramp up its renewable power generation business to focus on supplying the power needs of generative AI, especially in the US. Son added that their next big move needs to be made without fear of whether it will be a hit or a miss.
After several years of missteps with its sovereign wealth fund-backed investment group – Vision Fund bet on startups, Son is turning his focus to AI and semiconductors. Vision Fund, in the meantime, is writing down assets in its portfolio. SoftBank has accumulated a cash pile of a whopping ¥6.2 trillion at the end of March.
Currently, Son is looking at $100 billion to bankroll a chip venture that competes with NVIDIA, as per news reports. The Japanese conglomerate is also said to be in talks to acquire Graphone, a British semiconductor startup.
