Streetbeat News

SFTBY

SoftBank Group Corp.

https://group.softbank/

Open

27.68

Mkt cap

81B

Volume

25K

High

28.00

P/E Ratio

5.86

52-wk high

37.19

Low

27.68

Div yield

0.01

52-wk low

19.24

SoftBank Group Corp (OTC:SFTBF) and Tempus AI Inc (NASDAQ:TEM) have announced a joint venture, SB TEMPUS Corp., to enhance precision medicine in Japan using AI. The venture, launching in July 2024, aims to revolutionize cancer treatment by leveraging Tempus' AI technology. Both companies will invest JPY 15.0 billion each. Tempus also received FDA clearance for its AI-driven ECG-AF device.

Portfolio Pulse from Shivani Kumaresan

June 27, 2024 | 10:50 am

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.

Portfolio Pulse from Benzinga Neuro

June 27, 2024 | 6:42 am

SoftBank Group plans to launch an AI-powered medical service in Japan through a joint venture with Tempus AI Inc. The venture, capitalized at $188 million, will be equally owned by both companies and aims to start operations by July. Tempus AI's stock surged nearly 3% in pre-market trading following the news.

Portfolio Pulse from Benzinga Neuro

June 26, 2024 | 10:42 am

SoftBank CEO Masayoshi Son has seen a significant drop in shareholder support for his reappointment, falling from 95.93% to 79.22% in a year, following a recommendation by proxy advisor ISS. The decline is attributed to SoftBank's average return on equity of less than 5% over the past five years. Activist investor Elliott Investment Management has also demanded a $15 billion share buyback. Despite these challenges, SoftBank's stock has surged nearly 50% this year, driven by the rally of Arm Holdings Plc.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 12:21 pm

Masayoshi Son, founder of SoftBank, expressed regret over selling the company's stake in NVIDIA, missing out on a potential $157 billion gain. SoftBank's Vision Fund sold its 4.9% stake in NVIDIA in 2019, which would be worth around $160 billion today. This comes as SoftBank shifts its focus to semiconductors and AI.

Portfolio Pulse from Benzinga Neuro

June 21, 2024 | 10:21 am

Revolut, a UK-based fintech company backed by SoftBank Group Corp., is reportedly aiming for a valuation of over $40 billion in an employee share sale. The company is working with Morgan Stanley to sell approximately $500 million worth of existing shares. This valuation would represent a 21% increase from its 2021 fundraising round. Despite challenges in the European fintech market and scrutiny over its UK banking license application, Revolut continues to expand its offerings.

Portfolio Pulse from Benzinga Neuro

June 21, 2024 | 6:50 am

SoftBank's Masayoshi Son announced plans for a significant investment in artificial intelligence (AI), despite past setbacks with Alibaba and WeWork. The company is pivoting towards semiconductors and AI, with plans to expand its renewable power generation business in the US. SoftBank's Vision Fund has reduced its U.S.-listed portfolio by nearly $29 billion, and Son is seeking up to $100 billion for a chip venture to rival Nvidia.

Portfolio Pulse from Benzinga Neuro

June 20, 2024 | 7:26 am

The past week in consumer tech saw significant developments including Mark Cuban's concerns about AI regulation, data breaches at a SoftBank and Naver co-owned company, and the launch of a controversial gossip app. Vrio Corporation partnered with Amazon's Project Kuiper for satellite broadband in South America. Microsoft announced that 'Call of Duty: Black Ops 6' will require a constant internet connection. Apple made several announcements at WWDC 2024, including updates to visionOS, iOS 18, and a new AI initiative. Google faced fines and privacy complaints, while Samsung combined its AI research centers. Meta Platforms and Tesla were also in the news for various reasons.

Portfolio Pulse from Lekha Gupta

June 16, 2024 | 10:42 pm

Data breaches at Line Yahoo, co-owned by SoftBank Corp and Naver, have strained Japan-South Korea relations. Tokyo officials suggest Naver reduce its stake in A Holdings, potentially allowing SoftBank to gain control. The issue has escalated to high-level diplomatic discussions.

Portfolio Pulse from Benzinga Neuro

June 11, 2024 | 11:01 am

Elliott Investment Management has acquired a $2 billion stake in SoftBank Group Corp and is demanding a $15 billion share buyback. SoftBank's stock has surged due to the success of Arm Holdings, but investors remain skeptical of its AI investments. The clash between SoftBank's AI ambitions and investor demands for returns will shape the company's future.

Portfolio Pulse from Surbhi Jain

June 06, 2024 | 12:39 pm

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