Masayoshi Son, CEO of SoftBank, said Thursday the sale of the chip designer Arm to Nvidia Corp. will drive the growth of computing power.
Speaking at a virtual artificial intelligence summit hosted by Saudi Arabia, an anchor investor in the Vision Fund of $ 100 billion (approximately Rs 7.36.999 billion), Son reiterated his belief that AI would change society.
The Nvidia deal, which is part of a string of asset sales by Son whose group has been rocked by acidic investments and the COVID-19 pandemic, has raised concerns that it could jeopardize Arm’s role as a neutral supplier in the industry .
Son will be speaking to Jensen Huang, CEO of Nvidia, next week at SoftBank World, the group’s annual event for customers and suppliers that is retooling as it focuses on investing.
SoftBank’s growing cash pile is fueling speculation about future investment plans. The Vision Fund is targeting external funding for a blank check company, a source said, in a sign that the group is recovering its mojo.
“I’m a risk taker,” said Son on Thursday.
Rajeev Misra, CEO of SoftBank Investment Advisers who oversees the Vision Fund, said the market share that online trading companies have gained over the past six to eight months is more than what they have gained over the past four years combined .
“COVID has accelerated the acceleration of AI even further,” Misra said at the same conference, adding that artificial intelligence is at the core of their business in the 105 companies in which Vision Funds 1 and 2 have invested.
© Thomson Reuters 2020
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