SoftBank Reported To Invest $108 Billion Fund In Artificial Intelligence

SoftBank Reported To Invest $108 Billion Fund In Artificial Intelligence

In recent time, SoftBank publicized its second megafund for investing in technology companies that are working on AI (artificial intelligence) technologies worldwide. The company said that the entire expected investment to the SoftBank Vision Fund 2 from the Japanese conglomerate and its partner is summed up around $108 Billion in accordance with a series of MoU (memoranda of understandings). In turn, SoftBank reported it intends to contribute $38 Billion in the new fund. Some of the prominent companies that are set to participate in Vision Fund 2 are Microsoft, Apple, Foxconn (iPhone assembler), Standard Chartered Bank, and Japanese financial titans such as Sumitomo Mitsui Banking Corporation, Mizuho Bank, and MUFG Bank.

Other financiers include National Bank of Kazakhstan’s NIC (National Investment Corporation) and investors from Taiwan. The autonomous wealth funds of Abu Dhabi and Saudi Arabia—which were major supporters of the first Vision Fund—were not present on SoftBank’s list of expected financiers. In recent time, The Wall Street Journal reported that Abu Dhabi and Saudi Arabia had stated they were reconsidering to invest again, but Riyadh’s dedication will be below the $45 billion it invested in the first fund.

On a related note, SoftBank is set to invest $40 Billion in the second megafund. SoftBank Group is expected to spend $40 Billion in its second technology-focused megafund, as reported by the Wall Street Journal. As per sources familiar with the matter, SoftBank’s board is scheduled to meet soon to sanction the investment. Now, SoftBank is hoping for an “unlikely partnership of investors.” Chip manufacturer Qualcomm and Apple both invested in SoftBank’s first fund, trying to get into potential new technology companies and clients for their products. With this new $40 Billion fund, SoftBank is aiming completely on technology.

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