SoftBank Sets Sights on AI Deals

SoftBank founder and CEO, Masayoshi Son, is looking to invest tens of billions of dollars in artificial intelligence (AI) following the successful listing of its Arm unit, according to sources familiar with Son’s thinking. SoftBank is actively seeking investment opportunities in the AI space, with a potential deal with OpenAI, the maker of ChatGPT, being considered. Son has expressed his excitement about AI and his heavy usage of ChatGPT.

SoftBank is also exploring other options in the AI sector, including a preliminary approach to acquire Graphcore, a UK-based AI chipmaker. However, Graphcore has denied any attempt or offer by SoftBank to purchase the company. SoftBank’s interest in AI comes after its recent IPO success, where its chip designer Arm reached a valuation of $54.5 billion.

SoftBank has been in “defence mode” since May 2022, but Son plans to shift the company’s stance to “offence mode” as he believes there are promising advances in AI technology. In addition to potential investments, SoftBank may also pursue a broad strategic partnership with OpenAI. The company’s renewed focus on AI represents an opportunity for further growth and expansion in the tech investment sector.

– Reuters