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Japanese tech giant SoftBank has unveiled an investment worth nearly $9 billion in artificial intelligence. This approach by SoftBank deviates from its usual venture capital approach and places the company as a leader in the AI and semiconductor industries. The move comes after the chief executive officer, Masayoshi Son, said that AI would achieve human-level intelligence within the next decade, signaling the fast-pace advances and growth opportunities in AI.  SoftBank is planning to invest $9bn a year in AI investments while hunting bigger deals. https://t.co/DjQJcwlIki — Grayson Brulte (@gbrulte) May 26, 2024 SoftBank Transforms From Venture Capital To AI Dominance SoftBank, largely recognized for its Ambitious Vision Fund, has maintained a reputation for high-risk, high-reward investments and ventures. Its huge $18.5 billion investment in WeWork, which eventually filed for bankruptcy, represents the fund’s high-stakes approach. However, developments recently show a strategic realignment as the Fund shifts its focus towards AI and semiconductors. Also read: Meta’s AI Chief Says It’s Too Early to Worry About AGI Yoshimitsu Goto, SoftBank’s Chief Financial Officer, supported this change, noting that interest in investment activities remains at an active level and will be boosted by a renewed focus on AI business.  “We will, in principle, be keeping the same kind of trend in terms of the pace of investment activities. “From now on, we want to step up investments in AI companies.” Goto SoftBank’s Prepares for an AI-Driven Future SoftBank’s decision to increase the focus on AI corresponds to the plan provided by its CEO Masayoshi Son who, in several occasions, emphasized the role of AI in future advancements. One year prior, Son forecasted that artificial general intelligence would outcompete humans 10 times in a decade. This provocative assertion points to the extent of the tech giant seriousness and the magnitude of its investment in…

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Filed under: News - @ May 27, 2024 9:12 pm