SoftBank’s Masayoshi Son Defends AI Investments Amid Market Skepticism
SoftBank’s founder and CEO, Masayoshi Son, spoke to shareholders recently, emphasizing that artificial intelligence is still in its early stages. He termed any claims of a market bubble as “blasphemy against AI,” suggesting that such skepticism is misguided, particularly regarding SoftBank’s substantial investments in AI ventures like OpenAI, co-founded by Sam Altman.
At the company’s annual meeting in Tokyo, Son passionately addressed concerns about the sustainability of the current stock price rally. Having navigated SoftBank through various market fluctuations—including the dot-com bubble and the COVID-19 crisis—Son believes the potential of AI is just beginning to unfold.
“I think calling it a bubble is an insult to AI,” he asserted, adding that we are merely at the beginning of AI’s transformative journey.
Son’s remarks come at a time when SoftBank’s stock price has surged, partly due to its involvement with OpenAI, the creator of ChatGPT. Though this strategy has led to increased valuations, some investors are questioning whether the rapid price gains represent genuine long-term value or just speculative hype.
He also detailed specific strategies that SoftBank plans to implement to capitalize on the AI surge. The company is focused on creating data centers in the U.S. and has begun manufacturing robots in what it refers to as a “physical AI factory.” Son hinted at imminent announcements regarding their robotics endeavors, expressing optimism about upcoming developments. “This is likely the first instance of large-scale robot manufacturing,” he claimed.
Additionally, Son mentioned that SoftBank is contemplating an investment in Tokyo Electric Power Company (TEPCO). He indicated that incorporating a power company into SoftBank’s ecosystem would benefit both parties, stating, “If TEPCO joins our group, we will boost power supply and bring AI data centers to Japan.”
Using a familiar metaphor, Son described SoftBank’s business model as akin to a goose that lays golden eggs. He remarked, “Eggs don’t lay eggs, geese lay eggs.” With SoftBank’s market cap hovering around 37 trillion yen (approximately $229 billion), he noted a significant disparity between the company’s market valuation and its actual asset value, which he estimates at 74 trillion yen. “How much do we have to fight to convince the goose that it has done a good job?” he quipped to shareholders.
While Son’s use of “blasphemy” may have been metaphorical, it reflects a broader trend where many are increasingly looking to AI as a replacement for traditional belief systems.
