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Top related persons:
Symbotic - 4 Rick Cohen - 3 Zaheer Kachwala - 3 Vikas Parekh - 2 Masayoshi Son - 2 Shailesh Kuber - 2 Anil D'Silva - 2 Softbank - 1
Top related locs:
GreenBox Tokyo Wilmington Mass Fla SoftBank Wilmington , Massachusetts Symbotic
Top related orgs:
SoftBank - 3 Systems - 3 Thomson - 3 Walmart - 2 JV - 2 Tokyo bourse - 2 CNBC - 1 Gartner - 1

Search resuls for: "Greenbox"


4 mentions found


☆ The big AI and robotics concept that has attracted both Walmart and Softbank
  + stars: | 2023-10-07 | by ( Tim Mullaney | ) www.cnbc.com   time to read: +13 min
Softbank also owns 65% of the GreenBox venture, which launched with $100 million in investment by the two companies. They say it's a $500 billion market, and an example of the kind of change AI can bring to the economy at large. But not as many investors know about Softbank's "other" big AI investment, Wilmington, Mass.-based software and robotics maker Symbotic , which Walmart has taken a big stake in itself. Symbotic teamed up with Softbank to build GreenBox in order to preserve its own capital, Cohen told analysts. The GreenBox market for smaller companies shapes up as another $500 billion of possible demand, Gartner's Klappich said.
Persons: Rick Cohen, Softbank, Robert W, Baird, Vikas, Schwarz, Kristin Schwarz, Vikas Parekh, Parekh, Giordano, I've, TD Cowen, Joseph Giordano, GreenBox, Dwight Klappich, Symbotic, Klappich, Mason, Cohen, —, Bill Boyd, Gartner's Klappich, Doug McMillon Organizations: Walmart, CNBC, Gartner, Target, Venture, Arm Holdings, Wholesale, Forbes, Revenue Locations: GreenBox, Wilmington, Mass, Fla
☆ SoftBank forms JV with Symbotic to build AI-powered warehouses, up its stake
  + stars: | 2023-07-24 | by ( Zaheer Kachwala Krystal Hu | Zaheer Kachwala | Krystal Hu | ) www.reuters.com   time to read: +2 min
July 24 (Reuters) - SoftBank Group (9984.T) is forming a joint venture with warehouse automation company Symbotic (SYM.O) to build AI-powered warehouses that will be majority owned by the Japanese technology investor, the companies said on Monday. The unit has also signed a contract to buy AI-powered systems from Symbotic that will be worth $7.5 billion in the next six years. Based in Wilmington, Massachusetts, Symbotic provides robotics warehouse automation solutions and counts Walmart (WMT.N) as its major backer and customer. The Japanese company will have a 65% stake in GreenBox, with Symbotic owning the rest. For fiscal year 2022, Symbotic reported revenue of $593.3 million, up 136% year over year, with a loss of $139.1 million.
Persons: Symbotic, Rick Cohen, upping, Masayoshi Son, Zaheer Kachwala, Krystal Hu, Shailesh Kuber, Anil D'Silva, Cynthia Osterman Organizations: SoftBank, Systems, SoftBank Group Corp, Walmart, JV, Tokyo bourse, Thomson Locations: SoftBank, Wilmington , Massachusetts, Tokyo, GreenBox
☆ SoftBank forms JV to build AI-powered warehouses with Symbotic
  + stars: | 2023-07-24 | by ( ) www.reuters.com   time to read: +1 min
July 24 (Reuters) - SoftBank Group (9984.T) is forming a joint venture with supply-chain services provider Symbotic to build AI-powered warehouses that will be majority owned by the Japanese technology investor, the companies said on Monday. The firms are investing a total of $100 million in the venture, which will be called GreenBox Systems. The unit has also signed a contract to buy AI-powered systems worth $7.5 billion for its warehouses from Symbotic. The deal will give SoftBank, already an investor in Symbotic, warrants representing about 2% of the U.S. company's outstanding shares. The Japanese firm said it had also bought 17.8 million shares of Symbotic from CEO Rick Cohen.
Persons: Rick Cohen, Masayoshi Son, Vikas Parekh, Greenbox, Symbotic, Zaheer Kachwala, Shailesh Kuber, Anil D'Silva Organizations: SoftBank, Systems, Tokyo bourse, SoftBank Investment, JV, Thomson Locations: Symbotic, Tokyo, GreenBox
☆ SoftBank partners with Symbotic for AI-powered warehousing joint venture
  + stars: | 2023-07-24 | by ( ) www.reuters.com   time to read: 1 min
July 24 (Reuters) - SoftBank Group (9984.T) is partnering with Symbotic for a warehousing venture that will be majority owned by the Japanese investor and will buy $7.5 billion of the U.S. firm's artificial intelligence-powered systems, the companies said. Shares of Symbotic up 7% in premarket trading. The companies are investing a combined $100 million in the venture, which will be called GreenBox Systems, they said on Monday. SoftBank Group will have a 65% stake in GreenBox, with Symbotic owning the rest. Reporting by Zaheer Kachwala; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Symbotic, Zaheer Kachwala, Shailesh Organizations: SoftBank, Systems, Thomson Locations: GreenBox
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