SoftBank shares rise on $1.86 billion debt offering as CEO talks up 'super' AI [MSNBC.com]
SOFTBANK GRP UNSP/ADR (SFTBY)
NASDAQ:AMEX Investor Relations:
softbank.jp/en/corp/irinfo/presentations
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Source: MSNBC.com
Key PointsIn this articleMasayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks during the company's annual general meeting in Tokyo, Japan, on Friday, June 20, 2024. Son sketched out ambitions to help create AI thousands of times smarter than any human, making his most grandiose pronouncements since the Japanese conglomerate began taking steps to shore up its finances following a series of ill-timed startup bets.Kosuke Okahara | Bloomberg | Getty Images These will have interest rates ranging from 5.4% to 7% per annum.SoftBank said the money raised will be used for "repayment of indebtedness and for general corporate purposes."Its shares closed up 2.5% after news of the bond issuance.The raising of money via debt comes as SoftBank'soverall financial losses have begun to narrowinitial public offeringArmMeanwhile, the company, which runs a massive technology investment arm called the Vision Fund, has also suggested it isIn a rare public appearance this month
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