SoftBank's Son ‘Cried' About Nvidia Stake Sale to Fund AI Bets [Yahoo! Finance Canada]
SOFTBANK GRP UNSP/ADR (SFTBY)
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Source: Yahoo! Finance Canada
People who talk about a bubble around AI investment are “not smart enough,” the 68-year-old SoftBank chief executive officer said. If AI is able to earn 10% of global gross domestic product over the long term, that would more than make up for even trillions of dollars' worth of cumulative spending, he said. “Where is the bubble?” Son made his remarks at an offshoot of one of Saudi Arabia's biggest investment summits. The Tokyo forum featured appearances by Prime Minister Sanae Takaichi and the country's finance and economy ministers, reflecting deepening ties between the kingdom and Japan. Son's first Vision Fund was set up with $45 billion in funding from Saudi Arabia's Public Investment Fund. The PIF has invested about $11.5 billion in Japan from 2017 to 2024 and expects that total to grow to around $27 billion by the end of 2030, Governor Yasir Al-Rumayyan said at the same event. Most Read from Bloomberg Businessweek ©2025 Bloomberg L.P.
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