SoftBank cleared Alibaba from 48% to \”almost zero\” and shifted to investing in AI

According to Japanese media reports, SoftBank Group said this week that it has sold almost all its shares in Alibaba (BABA-US) (09988-HK), a move that marks the Japanese conglomerate\’s shift towards artificial intelligence (AI). part of the investment.

According to Japanese media reports, SoftBank Group said this week that it has sold almost all its shares in Alibaba (BABA-US) (09988-HK). The move is part of the Japanese conglomerate\’s shift to artificial intelligence (AI) investments. .
SoftBank noted that the focus of its investment portfolio has shifted from Chinese e-commerce company Alibaba to British chip design company Arm (ARM-US) as the company focuses on investing in artificial intelligence.
Alibaba\’s share of SoftBank\’s net asset value has dropped to \”almost zero\” from 48% in 2020.
At the same time, Arm accounts for 45% of SoftBank’s investment portfolio and SoftBank’s Vision Fund accounts for 29%.
SoftBank said: \”This demonstrates our shift to an artificial intelligence-centric investment portfolio.
Arm is at the core of our transformation into artificial intelligence and the assets we hold with the SoftBank Vision Fund.
SoftBank recorded an investment loss of 558.3 ​​billion yen in the fiscal year ended in March, most of which came from \”realized and unrealized valuation losses of 959.9 billion yen ($6.16 billion) on Alibaba stock.\”
SoftBank has been turning to artificial intelligence investments for some time, as founder Masayoshi Son shifted from venture capital to semiconductor and artificial intelligence investments.
SoftBank\’s profit for the quarter ended in March exceeded analysts\’ expectations, driven by a surge in Arm\’s valuation. SoftBank continues to raise funds for artificial intelligence expansion.
SoftBank owns up to 90% of Arm, and its shares have risen about 70% since Arm listed on Nasdaq last September.

Like (0)
Previous May 15, 2024 9:49 am
Next May 15, 2024 9:49 am

Related posts