In 2016, SoftBank bought Arm for about $32 billion and sold 25% of the business to the Vision Fund for $8 billion in 2016. In August 2023, SoftBank acquired the 25% stake in Arm from the Vision Fund for around $16 billion, valuing Arm at over $64 billion. After the September 14, 2023, public offering, SoftBank continues to own 89.9% of Arm.
Arm Holdings had a recent surge in value to $131 billion as it is winning with AI related chips and investment.
Softbank has $118 billion worth of Arm.
SoftBank told investors in November that its cumulative loss on WeWork exceeded $14 billion. In 2022, after a $32 billion loss in the Vision Fund, Son suggested that SoftBank would shift away from aggressive investments and into “defense” mode, selling down stakes in Alibaba
and preparing to take Arm public. A little more than a year later, as hype over artificial intelligence mounted, Son said Softbank would switch back into “offense” mode, pursuing investments in AI.
Softbank CEO and Head of the $100 billion Softbank Vision Fund Masayoshi Son will raise $100 billion for a new AI chip company.
AI NEWS: Japanese multi-billionaire Masayoshi Son is raising $100B for a new AI chip venture.
Plus, more developments over the weekend from Reddit, Mistral AI, Apple, ElevenLabs, the NBA, and Air Canada.
Here's everything you need to know:
— Rowan Cheung (@rowancheung) February 19, 2024
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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