Masayoshi Son hints at succession plan while chasing AI ambition
[TOKYO] Masayoshi Son acknowledged the outlines of a succession plan, addressing what may be the single biggest concern among investors, and name-checked the head of SoftBank Group's telecom unit Junichi Miyakawa.
Son said he plans to hold SoftBank's reins another ten years, but added he has several candidates for its next chief in mind from within the Japanese technology group, speaking during a general shareholders' meeting in Tokyo on Friday (Jun 27). The candidates work alongside the billionaire every day, although he has not disclosed who they are to anyone, the 67-year-old said.
While saying that he is healthy and intends to lead, Son added, 'If I should become a barrier to growth, SoftBank should move to its next phase.' He then listed Miyakawa – who is now in charge of rolling out AI infrastructure within Japan – as someone who's doing 'an extremely solid job.'
'I feel very pleased, encouraged and reassured by his efforts,' he said. 'As a result, I have almost never felt the need to interfere in what he does. I trust him.'
SoftBank's shares rose as much as 3.2 per cent after his comments, buoyed by a broader rally that boosted the Nikkei Stock Average.
Past lieutenants who have been officially or unofficially in the running to be Son's successor have included Nikesh Arora, Marcelo Claure and Katsunori Sago. All have left SoftBank.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
Son added, however, that he is passionate enough to work tirelessly for the next ten years to realise an era where artificial intelligence is pervasive in society.
SoftBank's ability to finance big bets resides in part on fervent support from Japanese retail investors, who in the past have been quick to snatch up the tech investor's bonds. Many voiced their fear about what would happen to the technology group without its charismatic founder.
One shareholder even asked if AI would either extend Son's lifespan or make it possible for Son to somehow remotely control the company from beyond the grave. Son responded by saying that while he intends to use AI 'more than anyone,' he did not see it replacing him.
The annual shareholders' meeting has long been a platform for Son to share his vision of a future of tech-driven progress. Many shareholders have hung onto his words and their shares from before the dot-com boom and bust.
Son said he's now cornered key artificial intelligence chip architecture, part of an ambition to become the world's top platform in an age in which AI surpasses human abilities – or what he and other AI proponents call artificial super-intelligence.
'We want to become the world's top platformer for ASI,' he said, adding that it'll be a winner-take-all arena. SoftBank controls chip designer Arm Holdings and plans to invest as much as US$30 billion in ChatGPT maker OpenAI. 'These are indispensable for ASI,' he said, noting also that SoftBank has acquired Graphcore and has plans to buy Ampere Computing. 'I'm all in.'
One of Son's big ambitions includes a partnership with Taiwan Semiconductor Manufacturing to build a large AI manufacturing hub in Arizona, Bloomberg reported earlier. BLOOMBERG
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
17 minutes ago
- Business Times
Sygnum is sole new unicorn from South-east Asia in H1 2025: report
[SINGAPORE] Digital asset group Sygnum has emerged as the sole new unicorn from South-east Asia in the first half of 2025, data platform Tracxn said in a report released on Thursday (Jun 26). The Singapore-based firm attained unicorn status in January 2025, after three rounds of funding and a total of eight investors before its unicorn round. Tech funding in South-east Asia reached US$2 billion in H1 2025, boosted by late-stage funding deals. This was 7 per cent higher than US$1.8 billion in the year-ago period, but 24 per cent less than US$2.6 billion in H2 2024. 'These figures reflect both a short-term slowdown and a longer-term recovery trend in the regional market,' noted the report. H1 2025 was marked by more late-stage funding deals and a rise in mega-round activity, contrasting with a general slowdown in early and seed-stage investments, the report added. Seed-stage investments fell 68 per cent to US$87 million from US$270 million in H1 2024. Likewise, early-stage funding also declined 53 per cent to US$464 million from US$991 million. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up On the other hand, late-stage funding jumped 149 per cent to US$1.4 billion from US$562 million. There were five rounds of funding worth more than US$100 million in H1 2025, compared to just two rounds in H1 2024. Tech firms in Singapore accounted for 92 per cent of all funding seen across South-east Asia in H1 2025. Taguig, a city in the Philippines, trailed far behind in second. The report noted that the 'significant role' of Singapore as a funding hub, combined with strong activity across acquisitions and initial public offerings (IPOs), underscores the region's resilience and evolving role in the global technology landscape. The study pointed out three industries as the top-performing sectors. Enterprise infrastructure was the highest, attracting US$859 million in funding, a huge jump from just US$22.1 million raised in H1 2024. This was followed by fintech, with US$775 million raised – a 26 per cent decrease compared to the year-ago period. The enterprise applications sector rounded out the top three, raising US$545 million in H1 2025, about a third higher compared to US$409 million in H1 2024. 'The dominance of enterprise infrastructure, fintech and enterprise applications highlights growing investor focus on scalable and impact-driven sectors,' the report noted.
Straits Times
an hour ago
- Straits Times
Japanese telco giant NTT weighs data centre Reit IPO on SGX mainboard
NTT DC Reit's portfolio will comprise six data centre assets across three markets: four in the US, one in Austria and the sixth in Singapore. ST PHOTO: BRIAN TEO SINGAPORE - After a spate of delistings from its mainboard this year, the Singapore Exchange (SGX) could be looking at a much-needed rebound with a potential real estate investment trust (Reit) listing by Japanese telecommunications group Nippon Telegraph and Telephone (NTT). NTT Data Group, a subsidiary of NTT which offers technology and data solutions, has filed a preliminary prospectus with the Monetary Authority of Singapore (MAS) for a Reit listing of its data centres on the SGX mainboard. NTT DC Reit's portfolio will comprise six data centre assets across three markets: four in the US, one in Austria and the sixth in Singapore with a total appraised value of US$1.6 billion (S$2 billion). The offering price for the Reit will be US$1 per unit. Among the Reit's cornerstone investors is Singapore's sovereign wealth fund GIC, which will subscribe for 100.88 million units valued at around US$100.88 million. Other investors include AM Squared, Hazelview Securities, Pinpoint Asset Management and Viridian Asset Management. If successful, NTT DC Reit would be the third data centre Reit to list in Singapore, following Keppel DC Reit and Digital Core Reit. The Japanese telco is among the world's largest data centre providers with a portfolio spanning 2,200 MW2 of IT power globally. It said in its prospectus that there is 'significant growth in the global data centre market with further headroom for expansion'. According to a report by Fortune Business Insights in June, the global data centre market size was valued at US$242.7 billion in 2024, and is expected to grow to US$584.8 billion by 2032, with an annual growth rate of 11.7 per cent. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
an hour ago
- Business Times
Trump plans executive orders to power AI growth in race with China: sources
[WASHINGTON] The Trump administration is readying a package of executive actions aimed at boosting energy supply to power the US expansion of artificial intelligence, according to four sources familiar with the planning. Top economic rivals US and China are locked in a technological arms race and with it secure an economic and military edge. The huge amount of data processing behind AI requires a rapid increase in power supplies that are straining utilities and grids in many states. The moves under consideration include making it easier for power-generating projects to connect to the grid, and providing federal land on which to build the data centres needed to expand AI technology, according to the sources. The administration will also release an AI action plan and schedule public events to draw public attention to the efforts, according to the sources, who requested anonymity to discuss internal deliberations. The White House did not respond to requests for comment. Training large-scale AI models requires a huge amount of electricity, and the industry's growth is driving the first big increase in US power demand in decades. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Between 2024 and 2029, US electricity demand is projected to grow at five times the rate predicted in 2022, according to power-sector consultancy Grid Strategies. Meanwhile, power demand from AI data centres could grow more than thirtyfold by 2035, according to a new report by consultancy Deloitte. Building and connecting new power generation to the grid, however, has been a major hurdle because such projects require extensive impact studies that can take years to complete, and existing transmission infrastructure is overwhelmed. Among the ideas under consideration by the administration is to identify more fully developed power projects and move them higher on the waiting list for connection, two of the sources said. Siting data centres has also been challenging because larger facilities require a lot of space and resources, and can face zoning obstacles or public opposition. The executive orders could provide a solution to that by offering land managed by the Defense Department or Interior Department to project developers, the sources said. The administration is also considering streamlining permitting for data centres by creating a nationwide Clean Water Act permit, rather than requiring companies to seek permits on a state-by-state basis, according to one of the sources. In January, Trump hosted top tech CEOs at the White House to highlight the Stargate Project, a multi-billion effort led by ChatGPT's creator OpenAI, SoftBank and Oracle to build data centres and create more than 100,000 jobs in the US Trump has prioritised winning the AI race against China and declared on his first day in office a national energy emergency aimed at removing all regulatory obstacles to oil and gas drilling, coal and critical mineral mining, and building new gas and nuclear power plants to bring more energy capacity online. He also ordered his administration in January to produce an AI Action Plan that would make 'America the world capital in artificial intelligence' and reduce regulatory barriers to its rapid expansion. That report, which includes input from the National Security Council, is due by July 23. The White House is considering making Jul 23 'AI Action Day' to draw attention to the report and demonstrate its commitment to expanding the industry, two of the sources said. Trump is scheduled to speak at an AI and energy event in Pennsylvania on July 15 hosted by Senator Dave McCormick. Amazon earlier this month announced it would invest US$20 billion in data centres in two Pennsylvania counties. REUTERS
