LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

SoftBank Group announces new $108 billion Vision Fund aimed at AI technology

Other investors in the fund include the National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and investors from Taiwan.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
SoftBank Group announces new $108 billion Vision Fund aimed at AI technology
Other companies expected to participate include Foxconn Technology Group, Mizuho Bank, Sumitomo Mitsui Banking Corp, and MUFG Bank Ltd, the company said. Image source: Reuters
Written By: Reuters
Updated: Fri, Jul 26, 2019
08:21 am
Tokyo, Reuters
RELATED NEWS
SoftBank's Son sticks with gut-led investing in chat with Alibaba's Jack Ma SoftBank's Son sticks with gut-led investing in chat with Alibaba's Jack Ma
Japanese fashion tycoon Maezawa shows off $900 million SoftBank payday Japanese fashion tycoon Maezawa shows off $900 million SoftBank payday
SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger
SoftBank to tighten governance at start-ups after WeWork debacle SoftBank to tighten governance at start-ups after WeWork debacle
SoftBank to write down minimum $5 billion for WeWork, other losses SoftBank to write down minimum $5 billion for WeWork, other losses

SoftBank Group Corp announced on Friday a second Vision Fund aimed at investing in AI technology, saying it has secured memoranda of understandings (MOUs) for about $108 billion from companies including Apple and Microsoft. SoftBank Group itself plans to invest $38 billion in the fund, it said in a statement. Other companies expected to participate include Foxconn Technology Group, Mizuho Bank, Sumitomo Mitsui Banking Corp, and MUFG Bank Ltd, the company said.

"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.

Other investors in the fund include the National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and investors from Taiwan.

SoftBank did not name Goldman Sachs as an investor. The Wall Street Journal said on Wednesday that the Wall Street investment bank would invest in the fund.

The latest fund follows Softbank`s first $100 billion Vision Fund which launched two years ago with $60 billion in backing from the sovereign wealth funds of Saudi Arabia and Abu Dhabi and has investments in more than 80 late-stage tech startups.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
SoftbankAI technology
RELATED NEWS
SoftBank's Son sticks with gut-led investing in chat with Alibaba's Jack Ma SoftBank's Son sticks with gut-led investing in chat with Alibaba's Jack Ma
Japanese fashion tycoon Maezawa shows off $900 million SoftBank payday Japanese fashion tycoon Maezawa shows off $900 million SoftBank payday
SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger
SoftBank to tighten governance at start-ups after WeWork debacle SoftBank to tighten governance at start-ups after WeWork debacle
SoftBank to write down minimum $5 billion for WeWork, other losses SoftBank to write down minimum $5 billion for WeWork, other losses

LATEST NEWS

Tata Sons chairman emeritus Ratan Tata invests in Mailit, a mailroom management and logistics company

Covid 19 symptoms: What is the right oxygen saturation level, when should you see a doctor—EXPLAINED

Anil Singhvi’s Strategy April 22: Day support zone for trading on Nifty is 14,175-14,250 & Bank Nifty is 30,725-30,800

Will Gold price touch Rs 50000 level? All the details you need to know now

Maharashtra Class 10, Class 12 Board Exam News: Class 10 board exam CANCELLED, class 12 board exam POTPONED till THIS date - check all details here

PUBG update: Alert! PUBG Mobile India may release on THIS date? Here's all you need to know

Stocks in Focus on April 22: Nestle India, Pharma Stocks, Hero MotoCorp, HDFC to KEC International; here are the 5 Newsmakers of the Day

Tourism is a vehicle for earning revenue and the government should support it: V Kamat, CMD, Kamat Hotels

WhatsApp Privacy Policy: Court verdict likely on WhatsApp, Facebook in India soon- Check all details here

Garena Free Fire redeem codes update: Check how to grab special redeem codes, free rewards and more

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved