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SoftBank Group announces new $108-billion investment fund

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TOKYO -- Japan's SoftBank Group on Friday announced the successor to its blockbuster Vision Fund, a new $108-billion vehicle with backing from banks and tech firms that it said would accelerate the "A

TOKYO -- Japan's SoftBank Group on Friday announced the successor to its blockbuster Vision Fund, a new $108-billion vehicle with backing from banks and tech firms that it said would accelerate the "AI revolution".

Originally a software giant, SoftBank has increasingly become an investment firm, taking stakes in leading tech start-ups from Uber to WeWork through its first Vision Fund, which was largely backed by Saudi Arabia. But SoftBank CEO Masayoshi Son made clear after the murder that he would continue working with Riyadh, saying he was "deeply saddened" by Khashoggi's death but adding: "we cannot turn our backs on the Saudi people."

 

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