Softbank Group and Symbotic have teamed up to create a joint venture focused on AI-driven warehousing.

 

Softbank Group and Symbotic have teamed up to create a joint venture focused on AI-driven warehousing.  The companies will invest $100M in the venture, called GreenBox Systems. With SoftBank's support, GreenBox aims to provide intelligent and scalable warehousing solutions using AI and automation. GreenBox, described as a "warehouse-as-a-service" venture, will purchase Symbotic's AI systems and robots over six years, amounting to $7.5B. SoftBank will own approximately 65% of GreenBox, while Symbotic will own the rest. Symbotic, with notable clients like Walmart, went public last year through a merger with a SoftBank-backed SPAC. The move comes after SoftBank's founder, Masayoshi Son, expressed plans to shift towards "offense mode" with its AI investments.