SoftBank is prepared to commit close to $9bn a year to artificial intelligence investments, even as the Japanese tech group holds back firepower for bigger deals aimed at accelerating what could be its most radical transformation to date.
Founder Masayoshi Son has been vocal about his belief in AI and the need to reshape the company in the hunt for deals that can support the group’s crown jewel, UK-based chip designer Arm, which has soared in valuation since it went public last year.
SoftBank’s outlay for investments and commitments has more than doubled to $8.9bn in the 12 months since Son said the company was ready to go on the “counteroffensive”. SoftBank said it was ready to maintain, or even exceed, the amount for the right mega-deal.