SoftBank is planning to create a $108 billion fund to invest in companies that have the potential to accelerate the development of artificial intelligence by Sam_L_Shead
SoftBank stunned the venture capital world with its launch of the $100 billion Vision Fund in 2017 and its wide-ranging and aggressive investments. Now billionaire Masayoshi Son has announced an even larger fund with $108 billion to invest in artificial intelligence companies.
SoftBank has upped its own stake in the new fund to $38 billion from the $25 billion in the original fund, and has tapped leading tech companies like Apple, Microsoft and Foxconn along with Japanese investment banks and Kazakhstan's sovereign wealth fund.One noticeable omission from the second fund is Saudi Arabia's sovereign wealth fund, which pumped $45 billion into the first Vision Fund.
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