Topline SoftBank founder and CEO Masayoshi Son on Friday told shareholders he and the company are on a mission to usher in an age of artificial superintelligence, dismissing the firm's past investments as a mere "warm up" and hinting the firm is ready to go on the offensive with ambitious bets and capitalize on the AI boom. SoftBank Group CEO Masayoshi Son wants to bring about superintelligent AI that is 10,000 times ... [+] smarter than humans. Getty Images Key Facts Son outlined his ambitious goal to brin ...

Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks during the company's annual general meeting in Tokyo, Japan, on Friday, June 20, 2024. Son sketched out ambitions to help create AI thousands of times smarter than any human, making his most grandiose pronouncements since the Japanese conglomerate began taking steps to shore up its finances following a series of ill-timed startup bets. "But when it comes to ASI it's a totally different story. [With] ASI, you will see a big i ...

To help fund the deal and TravelPerk's broader expansion efforts, the company also raised $135 million in debt financing from private equity firms Blackstone and Blue Owl. AmTrav has long had data exchange arrangements in place with airline giants American Airlines and Southwest, he added. AmTrav, which operates in the same space as TravelPerk, will continue to operate under the same brand and its entire team will continue with the business. "Currently, the U.K. is our biggest market," Meir said in an inter ...

Elliott is lobbying for $15 billion worth of share buybacks, arguing that the buybacks will boost SoftBank's share price and "act as a sign of Son's confidence in his strategy," the Financial Times reported. SoftBank shares hit a high of 9,572 yen on Wednesday, 6.32% higher than its Tuesday closing price, according to LSEG data. The shares closed 4.6% higher at 9,420 yen on Wednesday. Elliott's stake was valued at more than $2 billion and the U.S. fund manager had been liaising with SoftBank's senior manage ...

In fact, last week saw reports that Microsoft and Amazon have already allocated $40-plus billion combined for AI-related and data center projects around the world this year. For Microsoft, that means plans to invest more than $16 billion in various countries, including France, Germany, Japan, Malaysia, Spain and Indonesia, The Wall Street Journal reported. At the same time, Amazon has set aside investments of $15 billion in Japan, $9 billion in Singapore, $5 billion in Mexico and $1.3 billion in France. Jap ...

Operator SoftBank Group Corp. (OTCPK:SFTBY) Q4 2024 Earnings Conference Call May 13, 2024 3:30 AM ET Yoshimitsu Goto - Board Director & CFO Navneet Govil - SB Investment Advisers, SB Global Advisers, CFO Jason Child - EVP and CFO, Arm Company Participants Conference Call Participants As I mentioned earlier, for the two consecutive quarters, we recorded a net profit and orange line shows gain or loss on investments. Of course, it goes ups and downs, but in general it's been stabilized and we want to have Cas ...

Yoshimitsu Goto - Board Director & Chief Financial Officer Conference Call Participants First of all, I would like to introduce today's participants. From left, we have Yoshimitsu Goto, Board Director and CFO; Kazuko Kimiwada, Corporate Officer, Senior Vice President and the Head of Accounting Unit; Navneet Govil, SB Investment Advisers, SB Global Advisers CFO; and Jason Child, Executive Vice President and CFO, ARM. Jason is attending through the Zoom. This announcement is live broadcast over Internet. Good ...

〓 SoftBank Earnings Results for the Fiscal Year ended March 31, 2023 May 11, 2023 Disclaimers This presentation provides relevant information about SoftBank Group Corp. ("SBG") and its subsidiaries (together with SBG, the "Company") and its affiliates (together with the Company, the "Group") and does not constitute or form any solicitation of investment including any offer to buy or subscribe for any securities in any jurisdiction. In addition, this material does not constitute an offer to sell, or a solici ...

Financial Data and Key Metrics Changes - Consolidated net sales increased slightly to JPY 6.5 trillion, with investment profit and loss showing a year-on-year increase of JPY 2.6 trillion, although still negative overall [5][6][24] - Net asset value decreased from JPY 18.5 trillion to JPY 14.1 trillion, while cash position improved significantly from JPY 2.9 trillion to JPY 5.1 trillion [24][27] - Loan-to-value ratio improved from 20.4% to 11% [24] Business Line Data and Key Metrics Changes - Vision Fund segment recorded a negative JPY 4.3 trillion in investment losses, a decrease of JPY 1.7 trillion compared to the previous year [7][12] - Investment business primarily contributed by Alibaba, showing an increase of JPY 2.3 trillion compared to the previous fiscal year [7] Market Data and Key Metrics Changes - The geopolitical environment remains unstable, with no significant changes expected in the near term [3][4] - The financial system experienced instability, notably with events surrounding Silicon Valley Bank and Credit Suisse [3] Company Strategy and Development Direction - The company is transitioning from a defense mode to a more offensive strategy, particularly focusing on opportunities in the AI sector [4][31] - Emphasis on maintaining financial stability while exploring new investment opportunities, particularly in AI and technology [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns over geopolitical risks and financial instability but noted signs of improvement in the market [3][4][32] - The company aims to balance defense and offense in its investment strategy, with a focus on AI as a key growth area [31][33] Other Important Information - The Vision Fund has invested in around 500 companies, with 94% of portfolio companies being well-capitalized [18] - The company has a strong focus on monetization and has significantly reduced investment activities compared to previous years [21][22] Q&A Session Summary Question: What is the company's strategy regarding AI and generative AI? - The company is exploring opportunities in AI and generative AI, with a focus on how to leverage these technologies for business growth [49][50] Question: Will there be a bounce back in investments? - Investment activities will be selective and deliberate, depending on the attractiveness of opportunities [51][55] Question: What is the current stake in Alibaba and the status of forward contracts? - The company has effectively utilized all shares in Alibaba for forward contracts, indicating a significant reduction in holdings [57] Question: What is the company's position regarding the Credit Suisse lawsuit? - The company expressed disappointment over the lawsuit related to Greensill, emphasizing that it has no responsibility for the decisions made by Greensill [59][60] Question: How does the company view its investment in WeWork? - The company remains hopeful for WeWork's turnaround despite current struggles, holding about a 70% economic stake [69][71]

SoftBank Group Corp. (OTCPK:SFTBY) Q3 2023 Earnings Conference Call February 7, 2023 2:30 AM ET Company Participants Yoshimitsu Goto - Board Director and CFO Kazuko Kimiwada - SVP, Head of Accounting Unit Navneet Govil - CFO, Member of the Executive Committee, SB Global Advisors. Conference Call Participants Eriko Wada - Nikkei Asia Takahiko Hyuga - Bloomberg Operator Thank you very much for waiting everyone. Now we would like to start SoftBank Group Corp. Earnings Results briefing for the Nine-Month period ...