Tag: $SoftBank

SoftBank Group reported a quarterly loss, partly due to the weakness in its technology funds business, as it geared up for a giant artificial-intelligence infrastructure project with ChatGPT maker OpenAI and other partners.

SoftBank Group and ChatGPT maker OpenAI plan to team up to offer artificial-intelligence services, initially targeting Japanese businesses to lay the groundwork for potential expansion worldwide. SoftBank Group Chief Executive Masayoshi Son said Monday that the company will assign 1,000 employees this year to the joint venture, SB OpenAI Japan, to kick-start its sales and engineering work.

SoftBank is in talks to invest up to $25 billion in OpenAI, which would make it the startup’s top backer, CNBC has confirmed.

OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son, and Oracle Chairman and CTO Larry Ellison joined President Trump to announce an investment of as much as $500 billion in artificial intelligence infrastructure in the U.S.

 President-elect Donald Trump, with SoftBank Group CEO Masayoshi Son at his side, announced on Monday that SoftBank would invest $100 billion in the U.S. over the next four years in what would be a boost to the U.S. economy.

Softbank CEO Masayoshi Son will announce a $100 billion investment in the U.S. over the next four years during a Monday visit to President-elect Donald Trump’s residence Mar-a-Lago in Palm Beach, Florida, sources familiar with the matter told CNBC’s Sara Eisen.

SoftBank on Friday announced plans to issue euro and dollar-denominated bonds as it looks to pay down debt and focus its investments on artificial intelligence.

SoftBank Group shares rose as much as 6.3% on Wednesday, after a report said that Elliott Management had rebuilt a substantial stake in the Japanese technology conglomerate and was pushing for stock repurchases.

 SoftBank Group Corp said it would receive shares in telco T-Mobile US worth some $7.59 billion at no additional cost, driving the Japanese conglomerate’s shares up 5%.

Shares of Japanese tech investor SoftBank fell on Friday after the company reported a record loss at its Vision Fund tech investment unit. SoftBank shares closed 3.68% lower in Tokyo.