Latest news with #SoftBankGroupCorp.
Mint
a day ago
- Business
- Mint
Lenskart IPO: SoftBank-backed company plans to file DRHP for $1 billion IPO this week
Indian eyewear retailer Lenskart Solutions Pvt. is planning to file for an initial public offering of about $1 billion as early as this week, according to people familiar with the matter. The company, backed by SoftBank Group Corp., is finalizing the valuation as it prepares to submit its draft red herring prospects with the market regulator, the people said, asking not to be identified as the deliberations are private. A spokesperson for Lenskart didn't immediately respond to a request for comment. Global investors such as Abu Dhabi Investment Authority, KKR & Co., and TPG Inc. are among the backers of the company founded in 2010. With the potential IPO, Lenskart joins the rush for listings in India as shares bounce back from their April low on easing fears of a damaging global trade war and the nation's growth prospects. The offering comes as Indian technology startups increasingly turn to the local stock market instead of share sales overseas. Another SoftBank-backed firm InModi Pte is aiming to file for a $1 billion IPO this year, according to people familiar with the matter. In June 2024, Lenskart raised $200 million from Temasek Holdings Pte and Fidelity Management & Research at a $5 billion valuation, according to Avendus Capital Pvt., an advisor on the deal. Fidelity has since revised its internal estimate of the company's value to $6.1 billion, based on April portfolio disclosures. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Asahi Shimbun
17-07-2025
- Business
- Asahi Shimbun
SoftBank to have 1 billion ‘AI agents' up and running by 2026
Masayoshi Son, chairman and president of SoftBank Group Corp., and Sam Altman, CEO of U.S.-based OpenAI, discuss projects at an event held in Tokyo on July 16. (Naoko Murai) SoftBank Group Corp. plans to have 1 billion 'AI (artificial intelligence) agents' working in place of humans by the end of this year, the company's chairman and president said on July 16. Masayoshi Son announced the plan at a company event in Tokyo for corporate clients. According to Son, these AI agents can answer questions and make suggestions, as well as perform tasks such as replying to emails, making reservations at stores and repairing systems. Son said that in a future with AI agents, they could, for example, perform maintenance and inspections on the hundreds of thousands of system devices in Japan. 'Until now, sensors have detected (problems) and people have given instructions, but AI agents will make individual judgments and take action for each device,' Son said. The plan is to have each employee of SoftBank Group create more than 1,000 AI agents, building up to 1 billion. The AI agents, customized for each employee, will be responsible for some of the day-to-day decisions and negotiations. With that, each employee will become like Senju Kannon, a Buddhist deity depicted with a thousand arms, Son said. The company will also create an operating system (OS) to allow the AI agents to cooperate with each other, he said. Sam Altman, CEO of U.S.-based OpenAI, also participated in the online event. OpenAI is working with SoftBank Group on Stargate, a project to build a network of massive data centers in the United States, and Altman said the project is making good progress. In February, the two companies announced that they will provide an AI service called Cristal Intelligence for businesses in Japan. At the event, Son expressed concern that the use of generative AI in Japan is lagging behind that of the United States and China. 'I also feel that (Japanese) society as a whole is getting a little old,' he said. 'The most important thing for Japan today is to take this evolution head-on and participate in it on its own.'
Economic Times
28-06-2025
- Business
- Economic Times
Masayoshi Son hints at succession plan while chasing AI ambition
Reuters SoftBank CEO Masayoshi Son Masayoshi Son acknowledged the outlines of a succession plan at SoftBank Group Corp., addressing what may be investors' single biggest concern regarding the long-term future of the Japanese 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 technology group. The candidates work alongside the billionaire every day, although he hasn't disclosed who they are to anyone, the 67-year-old said during a general shareholders' meeting in Tokyo on Friday. Son fielded repeated questions from shareholders worried about a SoftBank without its charismatic leader or a succession plan. The chief executive officer responded that he's healthy and intends to continue to lead and aim to realize an era where artificial intelligence is pervasive in society. 'I look forward to seeing a successor grow as quickly as possible so that I can appoint them, but I still have some passion left and want to keep at this,' he said. Son added, however, that he's mentally prepared to hand over the reins at any time, should he stand in the way of SoftBank's mentioned the head of telecom unit, Junichi Miyakawa, who is in charge of rolling out AI infrastructure within Japan and widely seen as an example of how others in the company can lead as Son shifts his focus elsewhere. Miyakawa is doing 'an extremely solid job,' Son said. 'I feel very pleased, encouraged and reassured by his efforts. As a result, I have almost never felt the need to interfere in what he does. I trust him.'SoftBank's shares rose to close up 2.5%, buoyed by a broader rally that boosted the Nikkei Stock 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 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 didn't see it replacing annual shareholders' meeting has long been a platform for Son to share his vision of a future of tech-driven progress. Many investors have hung onto his words and their shares from before the dot-com boom and asked about SoftBank's ability to finance big bets such as the Stargate data center projects, and Son's ability to deliver on his goals to lead in an age of such project is a partnership with Taiwan Semiconductor Manufacturing Co. to build a large AI manufacturing hub in Arizona, Bloomberg reported earlier. Son said he's now cornered key artificial intelligence chip architecture and seeks to become the world's top platform by the time 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 Plc and plans to invest as much as $30 billion in ChatGPT maker OpenAI. 'These are indispensable for ASI,' he said, noting also that SoftBank has acquired Graphcore Ltd. and has plans to buy Ampere Computing LLC. 'I'm all in.' Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. The bike taxi dreams of Rapido, Uber, and Ola just got a jolt. But they're winning public favour Second only to L&T, but controversies may weaken this infra powerhouse's growth story Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals? 3 critical hurdles in India's quest for rare earth independence HDB Financial may be cheaper than Bajaj Fin, but what about returns? Why Sebi must give up veto power over market infra institutions These large- and mid-cap stocks can give more than 23% return in 1 year, according to analysts Are short-term headwinds from China an opportunity? 8 auto stocks: Time to be contrarian? Buy, Sell or Hold: Motilal Oswal initiates coverage on Supreme Industries; UBS initiates coverage on PNB Housing
Bloomberg
22-04-2025
- Automotive
- Bloomberg
UK AI Startup Wayve Makes Japan Debut After Nissan Partnership
Wayve Technologies Ltd., a UK-based artificial intelligence startup backed by SoftBank Group Corp., has tapped Japan as the next location in its global expansion. On Tuesday, it announced the opening of a test center in Yokohama, making Japan its fourth market after the UK, US and Germany as it looks to work with major carmakers in developing AI-driven, autonomous driving technology.
Bloomberg
07-04-2025
- Business
- Bloomberg
SoftBank Plans Largest Bond for Retail Investors Amid Turmoil
SoftBank Group Corp. is planning its biggest-ever sale of bonds for retail investors even as markets are becoming risk averse due to US tariffs rattling global financial markets. Masayoshi Son's investment company is issuing ¥600 billion ($4.1 billion) of five-year notes for individual investors, according to a filing. That would be its largest offering ever to retail investors, according to Bloomberg-compiled data.
