SoftBank Group founder Masayoshi Son has declared he’s ready to swing for the fences when he makes his next big tech bet, suggesting the Japanese conglomerate is on the cusp of making a major investment in artificial intelligence.
The billionaire has warned that his next big endeavor could be a big hit or a bad flop — but that SoftBank has no choice but to try. That echoes 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 shareholders gathered for the wireless operator’s annual meeting Thursday. 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.”