SoftBank Group, the tech investing giant, has announced its intention to;invest in more AI companies, especially those using generative AI.
;SoftBank has sold most of its stake;in Alibaba and reduced its spending on startups as it experiences extended losses in its tech-focused;Vision funds.
- SoftBank's Chief Financial Officer, Yoshimitsu Goto, said the company is preparing to take a proactive stance as the "AI revolution" grows nearer.
- During a presentation, he spoke highly of ChatGPT and said that Softbank's CEO, Masayoshi Son, is devoting time to studying SoftBank's AI approach.
- "AI has finally come, especially generative AI," Goto said.
- The news comes after SoftBank Vision Fund reported a seismic loss of;¥4.3 trillion ($32B);for the latest fiscal year.
- According to Goto, SoftBank will not miss out on investment opportunities in emerging technologies, such as ChatGPT.
- However, he cautioned that the company is not yet ready to speed up its deal-making activity.