Japanese conglomerate SoftBank Group (OTHEROTC:SFTBY) is said to be pursuing ambitious artificial intelligence (AI) investments post the successful listing of Arm Holdings (NASDAQ:ARM). As per a Financial Times report, the Masayoshi Son-backed company intends to partner with ChatGPT maker OpenAI and rival generative AI software makers.
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Son is reportedly in constant touch with OpenAI founder Sam Altman and is looking to invest billions of dollars in the firm. Plus, SoftBank could make a broad strategic partnership with OpenAI in addition to the existing deal, under which the company’s software is used to deploy generative AI technology for SoftBank’s mobile unit clients.
The report also suggests that SoftBank could venture into building its own version of ChatGPT. Further, people suggest that Son has made an initial bid to buy British AI chip maker Graphcore, details of which remain unknown.
Should I Buy SoftBank Stock?
Son seems to be in full-throttle investment mode after Arm’s initial public offering (IPO) fetched roughly $5 billion. Arm’s share price surged 25% on its first trading day on September 14. SoftBank still owns 90% of Arm, which could be used as collateral for loans. SoftBank’s cash and bank balance is approximately $65 billion, including all these. Now that Son is focusing substantially on AI goals, it won’t be long until we hear a fool-proof story of his new investments in the lucrative space.
In the past six months, SFTBY stock has gained 20.8%.
