SoftBank’s billionaire CEO Masayoshi Son is embarking on a new technology venture called artificial superintelligence (ASI).
Son has long been recognized as a visionary in the field of technology investing. He began his career by founding a video game company and demonstrated his entrepreneurial talents early on. Over the years, Son has made bold investments in startups that could revolutionize industries, cementing his reputation as a risk-taker with a keen eye for innovation.
But Son’s journey has not been without ups and downs. His successes include an early investment in Alibaba that became one of the most lucrative deals in venture capital history. Conversely, his involvement with WeWork highlighted the instability of his approach, as SoftBank faced heavy losses after the co-working company’s failed IPO attempt.
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Son’s legacy has been defined by his willingness to bet big on companies he sees as having transformative potential, highlighting both the rewards and risks inherent in a visionary investment strategy.
SoftBank’s Vision Fund is at the center of Son’s investment strategy, targeting fast-growing technology startups. The fund’s performance has been notably volatile, reflecting Son’s penchant for making bold investments. In fiscal 2021 (ending March 31, 2022), the Vision Fund posted a record loss of $27 billion due to the impact of rising interest rates on technology stocks. The downturn has led Son to adopt a “defensive” strategy aimed at protecting SoftBank’s existing investments.
But this defensive approach didn’t prevent further losses: By March 31, 2023, the Vision Fund had posted an even bigger loss of $32 billion after major setbacks in investments including Chinese AI company SenseTime and Indonesian e-commerce giant GoTo.
In response, Son returned to an offensive strategy and sought new growth opportunities.
The shift paid off the following year: As of March 31, 2024, the Vision Fund reported profits of $4.6 billion, thanks to successful investments in companies like British semiconductor design company Arm, TikTok parent company Bytedance, and food delivery service DoorDash.
The new obsession: artificial superintelligence
Despite recent successes, Son’s ambitions remain futuristic, toward artificial intelligence superintelligence.
The CEO envisions a future where ASI will surpass not only current AI capabilities but also the hypothetical potential of artificial general intelligence (AGI). He predicts that ASI will be 10,000 times more intelligent than the intelligence of the most intelligent human on the planet, signaling a sea change in technological advancement and its impact on society and industry.
Son believes achieving the ASI is his true calling, and claims that his entire career has been a prelude to this ultimate endeavor.
“What was SoftBank founded for? What was Masayoshi Son born for? It may sound strange, but I believe I was born to realize ASI. I am very serious about ASI,” Son told shareholders at the annual general meeting.
He revealed that all of his previous investments, including Uber and Alibaba, were just “warm-ups” for his AI ventures. “Making ASI a reality is my sole focus,” he said.
This focus is reflected in SoftBank’s recent investment activity. In May, SoftBank committed to making five large AI investments of at least $1 billion each. Notable AI investments include a $200 million investment in medical data analytics startup Tempus AI and a hefty $3 billion backing for AI internet search startup Perplexity AI.
OpenAI’s missed opportunity
Adding a further complication to Son’s current AI ambitions is his regret over selling SoftBank’s stake in Nvidia, which would have been worth 150 billion naira today if he had held on to it. This missed opportunity weighs heavily on Son, especially as he is now aggressively pursuing faster and more advanced AI development. Son’s regret underscores his determination not to miss out on the next big wave in artificial intelligence.
At the shareholders meeting, Son highlighted further opportunities in self-driving cars, AI robots and data centers, which he sees as areas with huge potential for growth and innovation. In a typically reflective moment, Son spoke about his own emotional struggles during SoftBank’s difficult period in 2022.
“Two years ago I cried so hard because I’m getting older and I only have a limited amount of time left and I still haven’t done anything,” he said.
But Son is now more certain of his purpose than ever, as he has stated, “Realizing ASI is the purpose for which I was born.”
His conviction and relentless pursuit of ASI underscore his determination to position SoftBank at the forefront of technological advancements, revolutionizing the industry and creating a new paradigm in the process.
Masayoshi Son’s journey reflects a blend of visionary ambition and a willingness to learn from failure. As he shifts SoftBank’s focus to making ASI a reality, he is confronting an ambition that could change the tech world and determine the company’s fate.
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