SoftBank Group founder and CEO Masayoshi Son has said that he is not planning to step down in his sixties, announcing to shareholders that he intends to remain at the helm of the technology conglomerate for another decade or more. According to a report by news agency Reuters, the 68-year-old billionaire tech investor declared that he no longer has time for retirement as he shifts SoftBank’s focus toward artificial intelligence (AI) and transforming the company into an AI-powered robotics powerhouse.“I have become greedier. I would like to do more over the next 10 to 15 years. I will stay healthy as long as I can,” Son told an audience of retail investors and shareholders.
Son dismisses ‘AI bubble ’ fears as blasphemy
At a time when Wall Street and global investors are debating whether the massive tech rally is sustainable, Son defended the sector’s current valuations. Having lived through both the dot-com crash and massive portfolio swings during the COVID-19 pandemic, the veteran dismissed any talk of a market downturn.“I think it’s blasphemy against AI if you say it’s a bubble. It’s just the beginning. AI’s potential will be unlocked,” Son stated during the annual general meeting, as per Reuters.Son revealed that he has revised his 50-year business roadmap to lead SoftBank well into his 70s. His ultimate goal is to help bring about “artificial superintelligence,” a level of AI that he defines as being 10,000 times smarter than a human being.SoftBank already owns an approximately 90% stake in British chip designer Arm Holdings, and has committed an estimated $65 billion to investing into ChatGPT-maker OpenAI. Beyond pure software, SoftBank is pushing into physical AI and automation through several key initiatives, including an agreement to acquire ABB’s robotics unit at a valuation of roughly $5.4 billion.The conglomerate is also reported to be in early discussions to participate in an $800 million funding round for German startup Agile Robots, and there have been reports that SoftBank plans to establish and list a brand-new AI and robotics company called Roze in the US as early as this year.