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☆ Exclusive: Line Man Wongnai targets listing as early as 2025 -exec
▼ + stars: | 2023-09-01 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

The logo of Thailand Stock exchange is pictured at an exhibition hall in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha/File Photo Acquire Licensing RightsTOKYO, Sept 1 (Reuters) - Thai food delivery startup Line Man Wongnai has begun appointing advisors to prepare for an initial public offering and is targeting a listing as soon as 2025, according to a senior executive at the Southeast Asian unicorn. Line Man Wongnai competes with Singapore-based Grab (GRAB.O), Foodpanda, and the food delivery business of Siam Commercial Bank. It was formed in 2020 from a merger of Line Man, the Thai food delivery business of Line, and restaurant aggregator Wongnai. "We are in a position to really help digitalise Thailand," said Chung, a former Goldman Sachs banker from South Korea who previously worked for Line, adding that the food delivery business is gaining market share.

Persons: Athit, Wongnai, Young Chung, Chung, Goldman Sachs, Sam Nussey, Yantoultra Ngui, Stephen Coates Organizations: Thailand Stock, REUTERS, Rights, Reuters, Siam Commercial Bank, Siam Cement, FoodStory, Thomson Locations: Bangkok, Thailand, United States, Asia, Singapore, Siam, South Korea

☆ Vision 2030 is Saudi Arabia's grand plan to future-proof its oil-based economy. Experts say it's a huge risk.
▼ + stars: | 2023-08-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +9 min

Vision 2030 is Saudi Arabia's grand plan to transform its economy and reduce its reliance on oil. The centerpiece of Vision 2030 is Neom, which includes a $1 trillion megacity known as The Line. But time is ticking: Seven years after announcing Vision 2030, Saudi Arabia has reached the midway point of its timeline, with just seven years left to the finish line. That said, much of this is being financed by the Public Investment Fund, Saudi Arabia's powerful sovereign wealth fund, which manages assets worth about $700 billion. NeomA key factor that could determine this project's success involves Saudi Arabia's changing appeal to the West.

Persons: Saud, who's, Simon Mabon, Prince Mohammed Bin Salman, Saudi Crown Prince Mohammed bin Salman, McKinsey —, —, Gerald Feierstein, Barack Obama, Feierstein, Richard Callis, Prince Mohammed, Yasir Othman al, Mabon, Prince Mohammed's, there's, Muslimi, they're Organizations: Foreign Policy Center, Saudi Royal Court, REUTERS, Saudi Crown, McKinsey, Middle East Institute, Public Investment Fund, Saudi, SoftBank's Vision, Newcastle United soccer, Newcastle United FC, Saudi Aramco, International Monetary Fund, Chatham House, Neom, United, Bloomberg, Amnesty International Locations: Saudi, Dhahran, Saudi Arabia, London, NEOM, Bandar, Yemen, Ukraine, Riyadh, Jeddah, they're, United Arab Emirates, Neom

☆ CNBC Daily Open: Jackson Hole anxiety overshadows Nvidia
▼ + stars: | 2023-08-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Jerome Powell, Chair of the Federal Reserve, arrives to a dinner at the start of the Jackson Hole Economic Symposium on August 24, 2023 at Grand Teton National Park near Jackson Hole, Wyoming. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rally fizzles outU.S. stocks closed lower Thursday as an earlier Nvidia-sparked rally fizzled out, while Treasury yields climbed higher. But there are other market themes that investors should know about, according to Goldman Sachs.

Persons: Jerome Powell, paring, CNBC's Lucy Handley, Singh Puri, CNBC's Tanvir Gill, Puri, Goldman Sachs Organizations: Federal Reserve, Jackson, Grand Teton, CNBC, Nvidia, Nikkei, AMD, Intel, Petroleum, Natural Gas Locations: Jackson Hole , Wyoming, Asia, Pacific, China, Europe, India, Moscow

☆ The CEO who brutally fired hundreds of the people on Zoom is taking his startup public in a move that could make or break him
▼ + stars: | 2023-08-24 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +10 min

Vishal Garg is taking Better, a mortgage startup, public through a long-delayed SPAC deal. Read what he said about making strategic acquisitions and the millions in company loans that stand to be forgiven. But CEO Vishal Garg, known for brutally laying off hundreds of employees via Zoom, insists he has a plan. One former employee told Insider that the move seems like a "Hail Mary," both for Garg personally and for the business more broadly. Here is what Garg said about his vision for the company and how he will spend the money Better receives from the IPO.

Persons: Vishal Garg, Garg, SPACs, Mary, refinancings, it's, SoftBank, indemnifying, —, It'll Organizations: & Finance, Aurora Acquisition Corp, Nasdaq, World Trade Center, Federal Reserve, Silicon, Better, Mortgage, SEC, Scotsman, Aurora, Insider Locations: Garg, refinancings, Queens , NY

☆ Morning Bid: World markets bounce at last
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The onshore yuan steadied amid supportive action by China's state banks in the swaps market, and Chinese stocks (.CSI300) perked up from the year's lows. Overall, MSCI's all-country index (.MIWD00000PUS) was on course on Tuesday for its first back-to-back daily gains of August so far. There were background concerns about the impact on U.S. banks of this latest hit to bond prices and borrowing rates. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Xi Jinping, MSCI's, Jackson, Jerome Powell's, Moody's, Thomas Barkin, Austan Goolsbee, Michelle Bowman, Cyril Ramaphosa, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Treasury, Federal Reserve, Nasdaq, P, Activision, Ubisoft Entertainment, Microsoft, Richmond Fed, Philadelphia Fed, Richmond Federal, Chicago Fed, China's, Reuters Graphics, Thomson, Reuters Locations: New York City, U.S, Wyoming, Jackson, China, South Africa, Asia, Johannesburg, Pretoria

☆ SoftBank's chip designer Arm reveals financials ahead of blockbuster US IPO
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

Aug 21 (Reuters) - Arm, the British chip designer owned by Japan's SoftBank Group (9984.T), on Monday disclosed its financial details in a filing with the U.S. Securities and Exchange Commission for an initial public offering. Reporting by Manya Saini in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Manya Saini, Arun Koyyur Organizations: Japan's SoftBank, U.S . Securities, Exchange Commission, Thomson Locations: British, Bengaluru

☆ SoftBank's Arm prepares to file for IPO status today
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoftBank's Arm prepares to file for IPO status todayCNBC's Deirdre Bosa joins 'The Exchange' to discuss SoftBank's Arm preparing for an IPO filing, controversy over Arm's U.S. filing status, and how Arm utilizes AI technology.

Persons: Deirdre Bosa

☆ Arm IPO to put SoftBank's AI hard sell to the test
▼ + stars: | 2023-08-21 | by ( Anton Bridge | ) www.reuters.com time to read: +4 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. The billionaire also said he has spent months creating hundreds of inventions with AI-powered ChatGPT that he believes can be realised through Arm. Analysts also caution that Arm does not sit at the centre of the AI boom but is more AI-adjacent. Nvidia has developed a "superchip" for use in data centres - the GH200, which contains CPUs based on Arm architecture. Many SoftBank portfolio companies will embrace and apply generative AI but that does not make them AI companies," said Victor Galliano of Galliano's Latin Notes, who publishes on Smartkarma.

Persons: Dado Ruvic, Masayoshi Son, Son, SoftBank, Kirk Boodry, it's, Boodry, Rolf Bulk, Victor Galliano, Anton Bridge, Edwina Gibbs Organizations: REUTERS, Rights, SoftBank, Nasdaq, SoftBank Group, Vision Fund, Astris Advisory, Fund, Nvidia, New, Research, Qualcomm, Apple, Google, Thomson Locations: Astris Advisory Japan, Saudi

☆ Softbank's Arm: Mega IPO could be just around the corner, a year after the biggest chip deal in history fell apart
▼ + stars: | 2023-08-21 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

Arm is a British tech company that architects power-sipping microchips for phones and tablets and licenses them to CPU makers, including Apple and Samsung. Softbank tried to offload Arm to Nvidia for $40 billion, in what would have been the biggest chip deal of all time. But global antitrust regulators put a stop to it, and the deal fell apart in February 2022. Softbank CEO Masayoshi Son has touted Arm as an AI company that could have “exponential growth.” He promised ChatGPT-like services would eventually be offered on Arm-designed machines. But Arm said it does not make AI chips and is not a direct competitor to Nvidia and others that make chips that are purpose-built for AI.

Persons: New York CNN —, Japan’s Softbank, Softbank, Masayoshi Son, ”, Arm, “ Organizations: New, New York CNN, Apple, Samsung, Nvidia, Reuters, Saudi Vision Fund, Financial Times Locations: New York, British

☆ What ARM's expected debut means for the IPO market and SoftBank
▼ + stars: | 2023-08-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Its debut will be a big deal for an IPO market that's been in the doldrums since 2022, but the company's listing has big implications for SoftBank as well. SoftBank agreed to acquire Arm in 2016 for $32 billion, which at the time was the biggest-ever purchase of a European technology company. The unit also swung to a 9.5 billion yen loss, having made a profit of 29.8 billion yen in the same period a year earlier. SoftBank said its Vision Fund booked an investment gain of 159.8 billion yen, its first gain in five consecutive quarters. In July, the company led a $65 million investment in U.K. insurance technology company Tractable.

Persons: Son, Tomohiro Ohsumi, SoftBank, It's, Rene Haas, Haas, Nvidia SoftBank, Arm, Grace Hopper, Didi, Uber, Yoshimitsu Goto, Leswing Organizations: SoftBank Group Corp, ARM Holdings, Bloomberg, Getty, Apple, reining, Acorn Computers, Acorn, Machines, VLSI Technology, CNBC, ARM, Nvidia, Vision, Investors, AMD, Vision Fund Locations: Tokyo, Cambridge, England, Switzerland, European, Europe, U.S, London, New York

☆ A.I. startup founder charged with defrauding investors, manipulating documents
▼ + stars: | 2023-08-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The fraud ground to a halt, prosecutors alleged, after Brackett was unable to attract further investors and simply ran out of funds. It shopped documents claiming $3.7 million in annual revenue around to investors and various short-term lenders, prosecutors allege. Brackett allegedly "transferred Firm-1's funds out of the account," and the company soon collapsed. Centricity's tale echoes the fraud allegedly perpetrated by Charlie Javice, the troubled startup founder of the fintech Frank. Similar to the allegations against Brackett, Javice allegedly manipulated her metrics to convince JPMorgan to acquire her startup.

Persons: Damian Williams, Martin Luther King Jr, Michael Brackett, Brackett, Centricity, Charlie Javice, Frank, Javice Organizations: Attorney, Southern, of, National Action Network House, Justice, Wall Street, JPMorgan, Vision Fund Locations: Manhattan, U.S, Switzerland, Maine

If the negotiations lead to a deal, the Japanese tech investor would be delivering a major, immediate windfall to VF1 investors, including Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala. A big windfall for VF1 investors could boost SoftBank's chances of tapping them for capital again in the future. VF1's investment committee and SoftBank's investment advisory board, attended by fund investor representatives, are handling the negotiations, one of the sources added. SoftBank, VF1 and Arm declined to comment. SoftBank, which took Arm private for $32 billion in 2016, sold a 25% stake in the company to VF1 for $8 billion in 2017.

Persons: Dado Ruvic, Abu Dhabi's Mubadala, Didi Global, VF1, SoftBank, Masayoshi Son, Raine, VF2, Son, Echo Wang, Anirban Sen, Greg Roumeliotis, Mark Porter Organizations: REUTERS, SoftBank Group Corp, Vision Fund, Nasdaq, Saudi Arabia's Public Investment Fund, WeWork Inc, Alibaba Group, HK, Deutsche Telekom, Mobile U.S, Amazon.com Inc, Reuters, Nvidia Corp, Thomson Locations: Arm, New York

☆ SoftBank is in talks to buy Vision Fund's 25% stake in Arm, sources say
▼ + stars: | 2023-08-13 | by ( ) www.cnbc.com time to read: +3 min

Yet its previous losses prevented SoftBank from securing outside investors for Vision Fund 2 (VF2), whose $56 billion in capital came from the Japanese firm and its management, including Chief Executive Masayoshi Son. A big windfall for VF1 investors could boost SoftBank's chances of tapping them for capital again in the future. It has been considering raising a third Vision Fund. VF1's investment committee and SoftBank's investment advisory board, attended by fund investor representatives, are handling the negotiations, one of the sources added. SoftBank, VF1 and Arm declined to comment.

Persons: SoftBank, Abu Dhabi's Mubadala, Didi Global, VF1, Masayoshi Son, Raine Organizations: Financial Times, Vision Fund, Nasdaq, Saudi Arabia's Public Investment Fund

☆ Apple and Samsung to invest in SoftBank's Arm at IPO -Nikkei
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoTOKYO, Aug 8 (Reuters) - Apple (AAPL.O) and Samsung Electronics (005930.KS) will invest in SoftBank Group (9984.T)-owned chip designer Arm at its initial public offering (IPO), expected in September, Japan's Nikkei newspaper reported on Tuesday. Reuters reported in June that Arm was in talks with some ten companies - including Apple, Samsung and Intel (INTC.O) - with the aim of bringing on one or more anchor investors in the offering. Last month, Reuters and other media reported that Arm was in talks to bring in U.S. chip designer Nvidia (NVDA.O) as an anchor investor for the New York listing. Apple, Samsung, Nvidia and Intel all plan to invest in Arm as soon as it is listed on the market, the Nikkei said. Apple, Nvidia and Intel did not immediately respond to a Reuters' request for comment.

Persons: Dado Ruvic, SoftBank, Masayoshi, Anton Bridge, Elaine Lies, Joyce Lee, Akash Sriram, Louise Heavens, David Dolan, Miyoung Kim, Sharon Singleton Organizations: REUTERS, Samsung Electronics, SoftBank, Japan's Nikkei, Reuters, Apple, Samsung, Intel, Nvidia, New, Nikkei, U.S . Securities, Exchange Commission, Vision Fund, Thomson Locations: KS, New York, Tokyo, Seoul

☆ SoftBank posts surprise loss even as Vision Fund back in black after five quarters
▼ + stars: | 2023-08-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

SoftBank reported a surprise loss in the first quarter covering April-June, despite an investment gain from its massive tech-focused Vision Fund. Here's how the company did:The SoftBank group reported a net loss attributable to owners of the parent of 477.6 billion yen ($3.3 billion). The tech conglomerate, which engages in venture capital investing through its Vision Fund, has had its fair share of ups and downs. The brainchild of founder Masayoshi Son, SoftBank's Vision Fund comprises Vision Fund 1 and Vision Fund 2 and invests in high growth stocks. Misra was instrumental in the early days of the Vision Fund, which was launched in 2017.

Persons: SoftBank, GoTo, Masayoshi Son, Son, Yoshimitsu Goto, Rajeev Misra, Misra, — CNBC's Arjun Kharpal, Sheila Chang Organizations: Vision Fund, Vision, Silicon, Nvidia Locations: Alibaba, Indonesian, U.S

☆ SoftBank sues social media startup it invested in, alleging it faked user numbers
▼ + stars: | 2023-08-04 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

SoftBank's Vision Fund filed suit against the founders of one of its portfolio companies Monday, alleging that they artificially inflated user metrics, lied to the fund about performance and bilked the fund for millions. Buzzy social media startup IRL launched in April 2021 and was seemingly "one of the fastest growing social media apps for Generation Z," the complaint in San Francisco federal court alleges. SoftBank was invested in the company due to its apparently low cost, "strong" user engagement that left it "well positioned for further viral growth" in the same way Facebook and Twitter exploded. SoftBank believed that IRL had 12 million monthly active users. Past missteps from SoftBank include large positions in allegedly fraudulent crypto exchange FTX and devalued property company WeWork .

Persons: Masayoshi, SoftBank, Abraham Shafi, Noah Shafi, Yassin Aniss, Abraham Shafi's Organizations: Vision Fund, Facebook, Twitter, IRL, U.S . Securities, Exchange Commission Locations: San Francisco, SoftBank

☆ SoftBank's Arm Ltd aims upto $70 bln valuation in September IPO - Bloomberg News
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoAug 2 (Reuters) - British chip designer Arm Ltd is targeting an initial public offering (IPO) at a valuation of between $60 billion and $70 billion as soon as September, Bloomberg News reported on Wednesday, citing people familiar with the matter. The roadshow is scheduled to start in the first week of September with pricing for the IPO to come in the following week, Bloomberg said. It was not immediately clear what impact any IPO investment by one or more of those companies would have on Arm's commercial relationships. Reporting by Gursimran Kaur in Bengaluru; Editing by Savio D'Souza, Nivedita Bhattacharjee and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Gursimran Kaur, Savio D'Souza, Nivedita, Sohini Organizations: REUTERS, Bloomberg, SoftBank Group Corp, Nasdaq, Reuters, Intel, AMD, Nvidia, Qualcomm, Thomson Locations: British, U.S, London, Bengaluru

☆ AI startup Tractable raises $65 million in Series E round led by Japanese investment giant SoftBank
▼ + stars: | 2023-07-18 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Artificial intelligence startup Tractable has raised a $65 million Series E led by SoftBank. The startup deploys AI to visually assess damaged cars and properties for insurers. Artificial intelligence startup Tractable has raised $65 million in a round led by Japanese investment giant SoftBank. Tractable last raised funds in a $60 million Series D round when it was valued at over $1 billion. The company declined to comment on the valuation attached to its Series E round, which also included existing investors Insight Partners and Georgian.

Persons: SoftBank, Masayoshi Son, Son, Alex Dalyac, Venkat Sathyamurthy, Mohan Mahadevan, Nahoko Hoshino, Dalyac Organizations: Insight Partners, Vision Fund, Adobe, SoftBank Investment Locations: London, New York, Japan

The timing of the listing was still unclear as money-losing PayPay needs to first demonstrate a clear path to profitability, the source said. SoftBank has previously set a PayPay listing as a goal, with one executive saying in November it was worth just under 1 trillion yen ($7.17 billion). Representatives for PayPay and SoftBank Group's (9984.T) domestic telecoms business, SoftBank Corp (9434.T), said they would not comment on speculation. PayPay is owned by SoftBank Corp, its internet business, Z Holdings (4689.T), and the group's second Vision Fund. PayPay booked a loss before interest, taxes, depreciation and amortisation of 11.9 billion yen in the year ended March, compared to a loss of 43.2 billion yen a year earlier.

Persons: SoftBank, SoftBank Group's, Kirk Boodry, Son, PayPay, Sam Nussey, Miho Uranaka, Scott Murdoch, David Dolan, Muralikumar Organizations: Companies, Z Holdings, PayPay, SoftBank Corp, Vision Fund, SoftBank, Syla Technologies, Rakuten Bank, SBI Sumishin, Bank, Astris Advisory, Mobile Marketing, Cambridge, Thomson Locations: . New York, Tokyo, New York, U.S, Astris Advisory Japan, Japan, England

☆ Why Japan is lagging behind in generative A.I. — and how it can create its own large language models
▼ + stars: | 2023-07-07 | by ( Audrey Wan | ) www.cnbc.com time to read: +7 min

But the nation is lagging behind in the generative AI race and is trying to create its own large language models. Generative AI has been the trendiest topic in tech since OpenAI made waves with its chatbot ChatGPT. Key to generative AI development are large language models which underpin the likes of ChatGPT and Baidu's Ernie Bot, capable of processing vast data sets to generate text and other content. Japanese companies pursuing generative AIBig Tech players have also joined the fray to boost Japan's standing in generative AI. While it has yet to catch up in the generative AI space, Japan is making its first stride with these private sector efforts.

Persons: Goldman Sachs, Ernie Bot, Noriyuki Kojima, Kojima, Fumio Kishida, Sam Altman, Masayoshi, Son, Amir Anvarzadeh, Anvarzadeh, CyberAgent, Bloom Organizations: Getty, Japan, Technology, Reuters, Microsoft, Google, Ministry of Economy Trade, Industry, IMD, Nikkei, Tokyo Institute of Technology, Tohoku University, Fujitsu, Riken, Japanese, Big Tech, SoftBank Group, SB Energy, Toyota Tsusho, Fortress Investment, Vision Fund, Asymmetric Advisors, NTT, Local Locations: Japan, China, Europe, Nikkei Asia, Government, Tohoku, Hokkaido, SoftBank

☆ SoftBank's View avoids SEC fine, but is still running low on cash. How it went from investor darling to SPAC disaster.
▼ + stars: | 2023-07-05 | by ( Hayley Cuccinello | Aaron Weinman | ) www.businessinsider.com time to read: +3 min

SoftBank-funded View Inc. has been dogged by regulatory troubles for more than a year and a half. The agency declined to fine View as the company self-reported the liability understatement, cooperated with the investigation, and "promptly undertook remedial measures." The SEC order did find that View violated several securities laws pertaining to negligence-based antifraud, internal accounting controls, and other matters. The firm's controversial CEO, Rao Mulpuri, has managed to raise cash for View multiple times when the company ran perilously low on cash, including from the now-bankrupt financier Greensill Capital. This is the second time View has been threatened with delisting since going public via SPAC in March 2021.

Persons: Vidul Prakash, Prakash, Rao Mulpuri, He's Organizations: Inc, Securities and Exchange Commission, SEC, Greensill, New York Stock Exchange Locations: California, SPAC

☆ SoftBank CEO Masayoshi Son thinks his firm will 'rule the world' thanks to its AI investments. Believe it or not, that's not as far-fetched as his previous claims.
▼ + stars: | 2023-06-22 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +4 min

SoftBank CEO Masayoshi Son says the firm will be a winner in the AI race thanks to its investments. Arm, a key player in the design of AI chipsets and SoftBank's AI ambitions, is anticipated to go public soon. In a past presentation, Son predicted that life expectancy would increase to over 200 by the year 2400 and that humans will someday learn to coexist with intelligent robots. In 2017, SoftBank's Son predicted that humans will learn to co-exist with intelligent robots within the next 30 years. In a 2017 presentation, SoftBank speculated that humans will someday be able to communicate telepathically.

Persons: Masayoshi Son, SoftBank, WeWork, it's, ByteDance, SoftBank's, Son, Elon, Neuralink . Son, SoftBank Son Organizations: Morning, Vision, SoftBank, Elon Musk's, Neuralink Locations: Coronavirus, Neuralink .

☆ Jefferies discusses SoftBank CEO Masayoshi Son's investments
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoftBank's Masayoshi Son was early to investment themes but hasn't picked the best stocks: JefferiesAtul Goyal, managing director at Jefferies, says SoftBank Group CEO Masayoshi Son has been "very early" when it comes to investment themes such as e-commerce, but hasn't made the "best" stock picks.

Persons: Son, hasn't, Jefferies Atul Goyal, Jefferies, Masayoshi Son Organizations: SoftBank

TOKYO, June 21 (Reuters) - SoftBank Group (9984.T) CEO Masayoshi Son said on Wednesday that his tech investing conglomerate plans to shift its stance to "offence mode" amid excitement over advances in artificial intelligence. "The time has come to shift to offence mode," Son told shareholders at the group's annual general meeting. SoftBank reported a net loss of 970 billion yen ($6.85 billion) for the year ended March 31, cushioning losses at the Vision Fund unit by selling down its stake in Alibaba (9988.HK). SoftBank's liquid assets, which include cash, cash equivalents and an undrawn commitment line, rose to 5.1 trillion yen at March-end compared to 2.9 trillion yen a year earlier. SoftBank aims to list Arm on Nasdaq later this year and is seeking to raise between $8 billion and $10 billion, Reuters has reported.

Persons: Masayoshi Son, Son, SoftBank, Yoshimitsu Goto, ChatGPT, Astro, Tezuka Osamu, Sam Nussey, Anton, Muralikumar Anantharaman, Sonali Paul Organizations: SoftBank, Vision Fund, Vision, HK, Astro Boy, Nasdaq, Reuters, Intel, Thomson Locations: TOKYO, Alibaba

☆ SoftBank's fortunes are 'looking to turn,' strategist says
▼ + stars: | 2023-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoftBank's fortunes are 'looking to turn,' strategist saysAmir Anvarzadeh, Japan equity market strategist at Asymmetric Advisors, discusses what SoftBank CEO Masayoshi Son described as a shift from "defense" to "offense" mode and the company's plans in artificial intelligence.

Persons: Amir Anvarzadeh, Masayoshi Son Organizations: Asymmetric Advisors Locations: Japan

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