SoftBank Group founder Masayoshi Son strongly rejected the idea that the artificial intelligence sector is in a bubble, terming such opinions "blasphemy against AI" and an "insult to AI." Speaking at SoftBank's annual general meeting, Son asserted that AI is still in its early stages and its full potential is yet to be unlocked. He maintained that the AI revolution is significantly larger than the dot-com boom, potentially 10 to 50 times greater, and could drive technological advancements for 50 to 100 years.
Son, who is 68, announced his intention to continue working for another "10 or 15 years" to achieve his vision of "artificial superintelligence," which he defines as AI 10,000 times smarter than a human. He expressed a desire to lead SoftBank into his 70s, stating, "I have become greedier." Under his guidance, SoftBank has made significant investments in AI, including an estimated $64.6 billion stake in OpenAI, representing about 13% ownership. The company is also moving into robotics, with Son stating, "I think we're the first in the world to have robots manufacturing robots at scale."
Despite S&P lowering its outlook on SoftBank's credit due to concerns over its OpenAI exposure, Son remains undeterred. He is recasting SoftBank as an AI-era industrial holding company, with shareholders approving amendments to incorporate AI, semiconductors, robotics, and data centers into the company's business purposes. Son also highlighted the significant discrepancy between SoftBank's market capitalization of around 37 trillion yen ($229 billion) and its asset value of approximately 74 trillion yen, emphasizing the company's underlying worth. He believes artificial superintelligence will eventually add at least 10% to global GDP and mentioned a potential collaboration with TEPCO to enhance power supply for AI data centers in Japan.
