 "SoftBank's Masayoshi Son ready to pass baton, bets big on AI revolution")
Masayoshi Son, founder and CEO of SoftBank Group Corp, has signalled his readiness to hand over the leadership of the tech and telecom conglomerate. Addressing shareholders in Tokyo on Friday, the 67-year-old said he is mentally prepared to step aside and has identified internal candidates to take his place, Bloomberg reported.
“I’m mentally prepared for anything, and I am ready to hand over the reins at any time,” Son said during SoftBank’s annual general meeting. However, he emphasised that no formal announcement would be made anytime soon. “It’s a delicate balance,” he explained, adding that revealing the successor too early might make them “arrogant”.
Betting big on ASI and the AI revolution
Son reiterated his ambition to position SoftBank at the forefront of the artificial superintelligence (ASI) race, aiming to make it the world’s leading platform in a future dominated by AI. “We want to become the world’s top platformer for ASI,” he said. “It’ll be a winner-take-all arena.”
SoftBank, a Japanese multinational investment holding company headquartered in Tokyo, already controls UK-based chip designer Arm Holdings Plc and has made aggressive moves to expand further into AI. The company plans to invest up to $30 billion in OpenAI, the creator of ChatGPT. In addition, SoftBank has acquired UK startup Graphcore Ltd and is eyeing a purchase of US-based Ampere Computing LLC. “These are indispensable for ASI,” Son said. “I’m all-in”.
Son is planning to build a major tech manufacturing hub in Arizona, modelled after China’s Shenzhen. The plan includes advanced chip and AI infrastructure, with a proposed partnership with TSMC, which already operates in the state and has committed $165 billion to expand its US investments, Bloomberg reported.
SoftBank’s impact on Indian startups
SoftBank Group is a pivotal force in the global technology investment landscape. Founded in 1981 by Masayoshi Son, SoftBank has redefined venture capital through its massive Vision Funds, which have deployed over $100 billion into high-growth technology companies worldwide.
In India, SoftBank has played a transformative role in the startup ecosystem, investing more than $10 billion across 24 companies, CNBC-TV18 reported. Its major Indian investments include Paytm, Ola Electric, Delhivery, FirstCry, PolicyBazaar, Unicommerce, and Swiggy. These investments have not only fuelled rapid growth but have also led to highly successful IPOs, with SoftBank earning over threefold returns on companies like Ola Electric and FirstCry. The firm’s aggressive capital deployment and focus on AI-driven innovation continue to shape India’s technology landscape, making SoftBank a key driver of the country’s digital economy.
Shareholder confidence key to SoftBank’s strategy
SoftBank’s long-term growth and bold investment strategy have been underpinned by strong support from Japanese retail investors. Many of these investors have held onto SoftBank shares since before the dot-com era, hoping the company would eventually surpass its past highs. The annual shareholders’ meeting continues to serve as a platform for Son to share his vision for the future of technology and inspire continued investor confidence, Bloomberg reported.