The Japanese technology group SoftBank has set up a new fund for investments in the development of artificial intelligence. The company itself is investing $ 38 billion in the fund, which, with commitments from companies such as Apple, Foxconn and Microsoft, is worth around $ 108 billion.
The entity will be the successor of the Vision Fund, with a size of 100 billion dollars. Among other things, this fund invested in tech company Uber, chat service Slack and the provider of subsidiary WeWork.
The new fund, called Vision Fund 2, is intended to accelerate the “revolution” in artificial intelligence. The aim is to invest money in technology companies that are expected to grow even further. The total capital can increase even further, according to SoftBank, because discussions are still ongoing with potential participants.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]