Latest news with #SoftBank
Economic Times
4 hours ago
- Business
- Economic Times
Masayoshi Son hints at succession plan while chasing AI ambition
Reuters SoftBank CEO Masayoshi Son Masayoshi Son acknowledged the outlines of a succession plan at SoftBank Group Corp., addressing what may be investors' single biggest concern regarding the long-term future of the Japanese said he plans to hold SoftBank's reins another ten years, but added he has several candidates for its next chief in mind from within the technology group. The candidates work alongside the billionaire every day, although he hasn't disclosed who they are to anyone, the 67-year-old said during a general shareholders' meeting in Tokyo on Friday. Son fielded repeated questions from shareholders worried about a SoftBank without its charismatic leader or a succession plan. The chief executive officer responded that he's healthy and intends to continue to lead and aim to realize an era where artificial intelligence is pervasive in society. 'I look forward to seeing a successor grow as quickly as possible so that I can appoint them, but I still have some passion left and want to keep at this,' he said. Son added, however, that he's mentally prepared to hand over the reins at any time, should he stand in the way of SoftBank's mentioned the head of telecom unit, Junichi Miyakawa, who is in charge of rolling out AI infrastructure within Japan and widely seen as an example of how others in the company can lead as Son shifts his focus elsewhere. Miyakawa is doing 'an extremely solid job,' Son said. 'I feel very pleased, encouraged and reassured by his efforts. As a result, I have almost never felt the need to interfere in what he does. I trust him.'SoftBank's shares rose to close up 2.5%, buoyed by a broader rally that boosted the Nikkei Stock lieutenants who have been officially or unofficially in the running to be Son's successor have included Nikesh Arora, Marcelo Claure and Katsunori Sago. All have left shareholder even asked if AI would either extend Son's lifespan or make it possible for Son to somehow remotely control the company from beyond the grave. Son responded by saying that while he intends to use AI 'more than anyone,' he didn't see it replacing annual shareholders' meeting has long been a platform for Son to share his vision of a future of tech-driven progress. Many investors have hung onto his words and their shares from before the dot-com boom and asked about SoftBank's ability to finance big bets such as the Stargate data center projects, and Son's ability to deliver on his goals to lead in an age of such project is a partnership with Taiwan Semiconductor Manufacturing Co. to build a large AI manufacturing hub in Arizona, Bloomberg reported earlier. Son said he's now cornered key artificial intelligence chip architecture and seeks to become the world's top platform by the time AI surpasses human abilities — or what he and other AI proponents call artificial super-intelligence. 'We want to become the world's top platformer for ASI,' he said, adding that it'll be a winner-take-all arena. SoftBank controls chip designer Arm Holdings Plc and plans to invest as much as $30 billion in ChatGPT maker OpenAI. 'These are indispensable for ASI,' he said, noting also that SoftBank has acquired Graphcore Ltd. and has plans to buy Ampere Computing LLC. 'I'm all in.' Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. The bike taxi dreams of Rapido, Uber, and Ola just got a jolt. But they're winning public favour Second only to L&T, but controversies may weaken this infra powerhouse's growth story Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals? 3 critical hurdles in India's quest for rare earth independence HDB Financial may be cheaper than Bajaj Fin, but what about returns? Why Sebi must give up veto power over market infra institutions These large- and mid-cap stocks can give more than 23% return in 1 year, according to analysts Are short-term headwinds from China an opportunity? 8 auto stocks: Time to be contrarian? Buy, Sell or Hold: Motilal Oswal initiates coverage on Supreme Industries; UBS initiates coverage on PNB Housing
Associated Press
10 hours ago
- Business
- Associated Press
TEM Investors with Large Losses Should Contact Robbins LLP for Information About Leading the Securities Fraud Class Action Against TEM
SAN DIEGO, June 27, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds stockholders that a class action was filed on behalf of investors who purchased or otherwise acquired Tempus AI, Inc. (NASDAQ: TEM) common stock between August 6, 2024 and May 27, 2025. Tempus purports to be provide Artificial Intelligence ('AI') enabled precision medicine solutions. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Tempus AI, Inc. (TEM) Misled Investors Regarding its Business Prospects According to the complaint, defendants failed to disclose: (1) Tempus inflated the value of contract agreements, many of which were with related parties, included non-binding opt-ins and/or were self-funded; (2) the credibility and substance of the joint venture with SoftBank was at risk because it gave the appearance of 'round-tripping' capital to create revenue for Tempus; (3) Tempus-acquired Ambry had a business model based on aggressive and potentially unethical billing practices that risked scrutiny and unsustainability; (4) AstraZeneca had reduced its financial commitments to Tempus through a questionable 'pass-through payment' via a joint agreement between it, the Company and Pathos AI; and (5) the foregoing issues revealed weakness in core operations and revenue prospects. The complaint alleges that on May 28, 2025, Spruce Point Capital Management, LLC issued a report on Tempus that raised numerous red flags over Tempus' management, operations and financial reporting. The Spruce Point Report scrutinized Tempus on an array of issues, including: (1) defendant Eric Lefkofsky and his associates have a history cashing out of companies before public shareholders incur losses or lackluster returns; (2) Tempus' actual AI capabilities are overstated; (3) board members and other executives have been associated with troubled companies that restated financial results; (4) signs of aggressive accounting and financial reporting; (4) issues with the AstraZeneca and Pathos AI deal that merit scrutiny; and (5) the Company's recent financial guidance reveals weakness in core operations. On this news, the price of Tempus common stock fell $12.67 per share, or 19.23%, from a closing price of $65.87 per share on May 27, 2025, to a closing price of $53.20 per share on May 28, 2025. What Now: You may be eligible to participate in the class action against Tempus AI, Inc. Shareholders who want to serve as lead plaintiff for the class should contact the firm. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Tempus AI, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome.
Yahoo
20 hours ago
- Business
- Yahoo
Softbank's Masayoshi Son's Super AI Bet
SoftBank's (SFTBY) Masayoshi Son aims to position the group as the central platform for artificial super intelligence within a decade, leveraging major AI investments like Ampere and OpenAI. Speaking at SoftBank's annual meeting, Son defined artificial super intelligence as systems 10,000 times smarter than humansand argued that reaching that milestone is closer than many assume. Warning! GuruFocus has detected 10 Warning Signs with SFTBY. To anchor that vision, SoftBank recently shelled out $6.5 billion for Ampere, a U.S. chip designer, and pledged up to $40 billion in fresh capital for OpenAI. I'm all in on OpenAI, Son told shareholders, signaling full support for its strategy and potential IPO. Son's roadmap underscores how SoftBank is doubling down on AI at a time when compute power and data-driven platforms are the new battleground. By funding both chip makers and leading AI labs, the group hopes to control key pieces of the value chain for next-gen intelligencewell ahead of rivals. If SoftBank can marry hardware muscle with cutting-edge AI research, it could emerge as the ecosystem's linchpin. Watch for how Ampere's chips and OpenAI's platforms integrateand whether Son's 10-year timeline holds. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 hours ago
- Business
- Yahoo
Softbank's Masayoshi Son's Super AI Bet
SoftBank's (SFTBY) Masayoshi Son aims to position the group as the central platform for artificial super intelligence within a decade, leveraging major AI investments like Ampere and OpenAI. Speaking at SoftBank's annual meeting, Son defined artificial super intelligence as systems 10,000 times smarter than humansand argued that reaching that milestone is closer than many assume. Warning! GuruFocus has detected 10 Warning Signs with SFTBY. To anchor that vision, SoftBank recently shelled out $6.5 billion for Ampere, a U.S. chip designer, and pledged up to $40 billion in fresh capital for OpenAI. I'm all in on OpenAI, Son told shareholders, signaling full support for its strategy and potential IPO. Son's roadmap underscores how SoftBank is doubling down on AI at a time when compute power and data-driven platforms are the new battleground. By funding both chip makers and leading AI labs, the group hopes to control key pieces of the value chain for next-gen intelligencewell ahead of rivals. If SoftBank can marry hardware muscle with cutting-edge AI research, it could emerge as the ecosystem's linchpin. Watch for how Ampere's chips and OpenAI's platforms integrateand whether Son's 10-year timeline holds. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
a day ago
- Business
- Mint
SoftBank's Son lays out vision to be No. 1 in artificial superintelligence
TOKYO—SoftBank's founder wants to make his company the world leader in artificial superintelligence—a hypothetical form of AI that is smarter than humans—within the next 10 years. 'I am betting all in on the world of ASI," SoftBank Group Chief Executive Masayoshi Son said at an annual shareholder meeting held in Tokyo on Friday. In the next decade, Son thinks only a handful of companies will reap the benefits from the around 600 trillion yen, equivalent to $4.155 trillion, of profit to be made from ASI. A key part of Son's strategy is strengthening the Japanese technology investment company's relationship with OpenAI. SoftBank will have invested up to $32 billion in OpenAI by the end of this year, the CEO said, making it one of the largest single investments ever made in a private company. In February, the two companies announced a plan to set up a joint venture to provide major Japanese companies with advanced enterprise AI called 'Cristal intelligence," which helps automate and autonomize tasks and work flows. 'OpenAI will eventually go public and become the most valuable company on Earth," Son said, expecting a listing to happen in the next few years. SoftBank, which has backed high-profile tech names such as Alibaba and Arm, has been stepping up its push into AI. Last July, it acquired U.K.-based AI chip maker Graphcore, and this year it announced the acquisition of U.S. semiconductor design company Ampere Computing in a $6.5 billion deal. Earlier this year, SoftBank and OpenAI announced a joint project called Stargate to build infrastructure for the ChatGPT maker. Database company Oracle and MGX, an investor backed by the United Arab Emirates, are also equity partners in the venture. The companies have pledged to invest up to $500 billion in Stargate over the next four years. SoftBank's investment plans have come under scrutiny as Japan tries to close a deal with the Trump administration, which is looking to fill a trade gap and invite more foreign investment into the U.S. to protect the economy. Asked by a shareholder about his relationship with President Trump, Son said he has often visited the White House and emphasized the importance of working closely with the U.S. administration. 'America is the world's largest AI hub and the technical epicenter of this revolution," Son said. 'America is where the greatest opportunities lie." News Corp, owner of The Wall Street Journal and Dow Jones Newswires, has a content-licensing partnership with OpenAI. Write to Megumi Fujikawa at
