SoftBank's Masayoshi Son Is Ready for Next Big Bet After Hiatus [BNN Bloomberg (Canada)]
SOFTBANK GRP UNSP/ADR (SFTBY)
NASDAQ:AMEX Investor Relations:
softbank.jp/en/corp/irinfo/presentations
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Source: BNN Bloomberg
The billionaire warned his next big endeavor could be a big hit or a bad flop — but that SoftBank had no choice but to try. That echoed SoftBank Chief Financial Officer Yoshimitsu Goto's recent comments about the investment firm needing to take more risk, particularly as AI development accelerates. “We need to look for our next big move, without fear of whether it'll be a hit or miss,” Son told SoftBank Corp. shareholders gathered for the wireless operator's annual meeting. He added that the company lost billions of dollars through its bet on WeWork. “SoftBank Group's dynamism arises from looking for new seeds of evolution, especially abroad.” Following a string of losses on startup bets, a humbled Son has largely shied away from the spotlight to focus on chip unit Arm Holdings Plc and on investment strategy around artificial intelligence. Thursday's comment is one of Son's more declarative comments about his readiness to get back in the saddle again. SoftBank will also ramp up
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