"The objective of the fund is to facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies," the Japanese tech conglomerate said in a statement, adding it was still talking to more potential investors and that the fund was expected to grow.
TOKYO: In the months leading up to Uber Technologies Inc’s market debut, Masayoshi Son made a habit of pointing out that SoftBank Group Corp is the world’s largest investor in ride-hailing companies. Suddenly, it doesn’t seem like such an enviable position.
SoftBank has lost about US$16bil in market value in the past three trading days as Uber plunged nearly 20% below its IPO price. On Tuesday, the Tokyo-based company’s shares fell 5.4%, the biggest decline since Dec 25. The overall market was also down, with the Nikkei 225 Average retreating 0.6% amid escalating US-China trade tensions.
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