Masayoshi Son Says SoftBank Shifting To 'Offense Mode' To Capitalize On AI Revolution: CNBC

SoftBank Group chairman and CEO Masayoshi Son has announced that the Japanese investment firm is shifting from “defense mode” to “offense mode,” aiming to capitalize on the AI revolution, CNBC reports.

Shifting Gears: During a shareholders’ annual general meeting, Son stated that the time has come for SoftBank to shift its focus. After spending the past few years building its cash reserves to five trillion yen ($35.3 billion), the firm is ready to move into “offense mode.”

AI Revolution: Son expressed his interest in the AI revolution and his belief that AI will exceed mankind. He stated that SoftBank aims to be in the leading position for this revolution. SoftBank’s portfolio includes companies like ByteDance, DiDi Grocery, and Coupang.

Upcoming IPO and AI Growth: SoftBank is preparing for the IPO of Arm, the U.K.-based chip design firm it acquired in 2016. The firm’s CFO, Yoshimitsu Goto, stated that the IPO process is going smoothly. Son also mentioned his use of the AI chatbot ChatGPT, praising its ability to generate humanlike responses.

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