SoftBank unveils investment fund to drive 'AI revolution'

  • 📰 YahooSG
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 71%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

SoftBank unveils investment fund to drive 'AI revolution'.

Japan's SoftBank Group said Friday it would partner with tech firms including Apple and Microsoft in a new $108-billion investment fund to accelerate the"AI revolution".

In a statement, SoftBank Group said Vision Fund 2 would"facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies". The announcement of Vision Fund 2 made no mention of Saudi Arabia among the investors, though reports ahead of the announcement suggested Riyadh was in negotiations to put money into the fund.The Japanese firm's strong ties with the kingdom came under scrutiny after the murder of Saudi journalist Jamal Khashoggi in the Saudi consulate in Istanbul.

Reports suggest both Saudi Arabia and the United Arab Emirates are considering investing in the new fund, though possibly with smaller stakes than last time. "I don't want to be number two... I have not been able to accept that ever since I was a child," said the flamboyant tycoon."It's an attractive growth sector as digitalisation has been under way globally and rapidly," Yosuke Nakamura, a researcher at NLI Research Institute, told AFP.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US business investment picking up; goods trade deficit narrowsNew orders for key U.S.-made capital goods surged in June, but the jump will probably not change expectations that business investment contracted ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US business investment stabilizing, economy slowingNew orders for key U.S.-made capital goods surged in June, but the jump will probably not change expectations that business investment contracted ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »