SoftBank's Masayoshi Son Doubles Down on AI Bets, Targets Vision Fund IPO by 2024

The article discusses SoftBank’s founder Masayoshi Son’s continued focus on investing in artificial intelligence (AI) companies through the company’s Vision Fund. Despite recent setbacks, Son remains bullish on AI and plans to take the Vision Fund public by 2024. Key points include: Son believes AI will be the driving force behind the ‘information revolution,’ and he aims to invest in companies at the forefront of AI development. SoftBank reported a profit of $19.7 billion for the fiscal year ending March 2023, largely due to gains from its AI investments. However, the company also faced losses from its stakes in companies like WeWork and Uber. Son plans to launch a second Vision Fund focused solely on AI companies and aims to raise $55 billion for it. He believes AI will create immense wealth and wants SoftBank to be a major player in this field. The article highlights Son’s unwavering commitment to AI despite criticism over some of his investments.

Source: https://www.businessinsider.com/softbank-results-profit-masayoshi-son-ai-bets-ipo-vision-fund-2024-11