After losses, SoftBank’s Masayoshi Son says he’s ready for his next big bet

SoftBank Group founder Masayoshi Son has said he is ready to embark on his next big tech bet, suggesting the Japanese conglomerate is poised to make a major investment in artificial intelligence.

The billionaire warned that his next big venture could be a big hit or a bad failure – but that SoftBank has no choice but to try. This echoes recent comments from SoftBank CFO Yoshimitsu Goto that the investment firm needs to take more risks, particularly as AI development accelerates.

“We need to look for our next big move, without fearing whether it will be a success or a failure,” Son told SoftBank shareholders gathered Thursday for the wireless carrier’s annual meeting. He added that the company lost billions of dollars because of its bet. on WeWork. “The dynamism of the SoftBank group arises from the search for new seeds of evolution, particularly abroad.”