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- 🤖 SoftBank plans to plunge billions into AI
Good morning and welcome to the latest edition of neonpulse!
Great news! SoftBank is planning to plunge billions into AI, after a successful IPO that made them over $5 billion. Let’s dive in!
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SoftBank Plans to Plunge Billions Into AI
In a strategic move following the successful IPO of chip designer Arm, SoftBank Group is poised to funnel substantial investments into AI. Among potential ventures, OpenAI emerges as a prime contender for collaboration.
Reports from the Financial Times unveil a close rapport between SoftBank's CEO, Masayoshi Son, and OpenAI's leader, Sam Altman. This relationship has paved the way for considerations of a comprehensive strategic partnership between the two entities.
Already, SoftBank's Japanese mobile unit has inked a pact with OpenAI, aimed at facilitating the deployment of generative AI services for businesses in Japan. However, SoftBank's ambitions extend beyond these shores, as it explores diverse investment avenues, potentially bolstering contenders to OpenAI.
Notably, sources suggest that SoftBank has made preliminary overtures to acquire Graphcore, a UK-based chip manufacturer, signaling a bid to intensify competition with industry giant Nvidia.
The recent IPO of Arm, which garnered nearly $5 billion through a 10 percent stake sale, valuing the chip design powerhouse at $54.5 billion, marked a significant milestone for SoftBank.
Renowned for his adept dealmaking, Son had previously adopted a "defense mode" stance during the technology downturn in 2022, focusing on fortifying SoftBank's financial position. The anticipated Arm IPO remained a pivotal focus during this period.
Insiders now speculate that Son is reinvigorated and eager to resume dynamic dealmaking. In this resurgence, AI emerges as a huge target for SoftBank's vision of the future.
How important do you think investments like these are for long-term success?On a scale of 1-10... |
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