After Missing Nvidia Rally, Masayoshi Son Is Giving AI Investment Another Try? SoftBank Is Reportedly Investing In Jeff Bezos-Backed AI Startup That's Taking On Google Search
Portfolio Pulse from Benzinga Neuro
SoftBank Group Corp. is investing $10-$20 million in Jeff Bezos-backed AI startup Perplexity AI, which aims to compete with Google's search engine. This investment is part of a larger $250 million funding round, tripling Perplexity's valuation to $3 billion. The move highlights SoftBank's renewed focus on AI after missing out on Nvidia's rally.
June 27, 2024 | 6:42 am
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POSITIVE IMPACT
SoftBank's investment in Perplexity AI highlights its renewed focus on AI, potentially boosting investor confidence after missing out on Nvidia's rally.
The investment in Perplexity AI is a strategic move to bolster SoftBank's AI portfolio, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SoftBank's investment in Perplexity AI highlights its renewed focus on AI, potentially boosting investor confidence after missing out on Nvidia's rally.
The investment in Perplexity AI is a strategic move to bolster SoftBank's AI portfolio, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
SoftBank's investment in Perplexity AI, a startup aiming to compete with Google Search, could pose a future competitive threat to Alphabet Inc.'s core business.
Perplexity AI aims to compete directly with Google's search engine, potentially impacting Alphabet's market share in the long term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SoftBank's investment in Perplexity AI, a startup aiming to compete with Google Search, could pose a future competitive threat to Alphabet Inc.'s core business.
Perplexity AI aims to compete directly with Google's search engine, potentially impacting Alphabet's market share in the long term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80