After cutting new startup investments amid a drop in tech-company valuations, the Japanese business conglomerate is ready to start deploying funds more aggressively, specifically in AI, said chief financial officer Yoshimitsu Goto. (The Wall Street Journal)
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After cutting new startup investments amid a drop in tech-company valuations, the Japanese business conglomerate is ready to start deploying funds more aggressively, specifically in AI, said chief financial officer Yoshimitsu Goto. (The Wall Street Journal)
Talking point: SoftBank reported a US$39-billion loss in its Vision Fund Thursday, the biggest loss yet for the tech-focused fund, despite selling assets to raise cash over the past year, including most of its stake in Chinese e-commerce giant Alibaba. While the firm has been bullish on AI for years, with CEO Masayoshi Son initially prioritizing the technology in its US$108 billion Vision Fund 2 launched in 2019, relatively few of the fund’s bets were on AI companies. Goto said that’s changing. “AI has finally come, especially generative AI,” he said.
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