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SoftBank Group

SoftBank is a Japan-based telecom and e-commerce conglomerate that has expanded mainly through acquisitions, and its key assets include a 40%-owned mobile and fixed broadband telecom operator business in Japan. It also owns 90% of semiconductor chip designer Arm Holdings following the 2023 IPO of this business, and has a vast portfolio of mainly internet- and e-commerce-focused early-stage investments. It is also general partner of the $100 billion SoftBank Vision Fund 1 and sole investor in SoftBank Vision Fund 2, both of which primarily invest in pre-IPO internet and AI companies.

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La valoración de Perplexity AI se dispara a 9.000 millones de dólares en plena competencia de búsqueda por IA.

Perplexity AI asegura 500 millones de dólares y triplica su valoración en solo un año

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Startups en Asia están desarrollando chips de IA más eficientes y rentables para competir con NVIDIA en el mercado de IA.

Startups asiáticas desafían a NVIDIA (NVDA) con chips de IA más eficientes y rentables

SOFTBANK GRP UNSP/ADR by Softbank Group Corp

SoftBank Group Corp

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1200" height="711" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/16185231/image-7.png" alt="" class="wp-image-4139" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/16185231/image-7.png 1200w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/16185231/image-7-300x178.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/16185231/image-7-1024x607.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/16185231/image-7-768x455.png 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Small Language Model</h4>
An enlarged chart of Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock.&nbsp; The chart of MSFT stock is being used to illustrate the point.</li>
<li>The chart shows MSFT stock has climbed in December so far.</li>
<li>The chart shows support and resistance zones for MSFT.</li>
<li>RSI on the chart shows MSFT stock is overbought.&nbsp; Overbought stocks are susceptible to a pullback.</li>
<li>The Arora Report previously shared with readers a major milestone in AI progress – human-like reasoning capabilities using chain link thinking in Model 4o from OpenAI.</li>
<li>ChatGPT-4o is a large language model.</li>
<li>In further AI progress, Microsoft has introduced Phi-4.&nbsp; Phi-4 is a small language model that outperforms GPT-4o in certain mathematical reasoning.&nbsp; Phi-4 is only a fraction of the size of GPT-4o.&nbsp; It appears that Phi-4 can do better in solving certain math problems compared to its teacher model GPT-4o.&nbsp; Also of note is that Microsoft trained Phi-4 mostly on synthetic data.</li>
<li>The foregoing is important for investors as investors need to get ahead of the curve.&nbsp; In The Arora Report analysis, Phi-4 challenges the present belief that bigger is better.</li>
<li>In The Arora Report analysis, small language models such as Phi-4 have a very bright future.&nbsp; There is a fortune to be made in AI between now and 2030.&nbsp; However, it will not be in a straight line.&nbsp; At times, it will be treacherous.</li>
<li>There is excitement in the stock market this morning as it was announced Friday after the close that AI software company Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and big bitcoin holder MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) are being added to the Nasdaq 100.</li>
<li>The Arora Report has previously written that one of the things Trump can do to reduce inflation from his policies is to attract foreign investment to the U.S.&nbsp; In the first sign of success for Trump, Japan's SoftBank Group Corp &#8211; ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) CEO Masayoshi Son will announce at Mar-a-Largo a $100B investment in the U.S. over the next four years.</li>
<li>There is also buying in the early trade as the market believes it is a certainty that the Fed will cut interest rates this week in spite of the data not supporting such a rate cut.</li>
<li>Markets in the U.S. are not being impacted by weakness in Europe and Asia as there was powerful pumping of stocks in the media over the weekend.&nbsp; Retail investors tend to be influenced by the weekend pump and buy on Monday morning.</li>
</ul>
<h4 class="wp-block-heading">France</h4>
Moody's has cut France's credit rating.&nbsp; French stocks and bonds are falling.
<h4 class="wp-block-heading">China</h4>
Markets all across the globe are being negatively impacted by weak retail sales data in China.
Retail sales in China came at 3.0% year-over-year vs 4.8% consensus.
Concern is building that the Chinese consumer is not spending in spite of stimulus measures by the government.
In The Arora Report analysis, investors should note the sharp contrast between U.S. consumers and Chinese consumers at this time.&nbsp; U.S. consumers are on a buying binge.&nbsp; Chinese consumers are holding back and are focused on savings.
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Amazon.com, Inc., Alphabet Inc Class C , Meta Platforms Inc , NVIDIA Corp , and Tesla Inc.
In the early trade, money flows are neutral in Apple Inc and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Over the weekend, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ran over $106,000 on a rumor that Trump will announce the bitcoin reserve on day 1.
<h4 class="wp-block-heading">Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.&nbsp; The proprietary protection band from The Arora Report is very popular.&nbsp; The protection band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider holding Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

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AI Progress From Microsoft – Phi-4 Outperforms Human-like reasoner AI Model GPT-4o, Bitcoin Rumor

Japanese company SoftBank (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>)(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) announced a $100 billion investment and 100,000 jobs created in a commitment to the U.S. on Monday,<a href="https://www.benzinga.com/news/24/12/42505666/softbanks-masayoshi-son-to-reportedly-announce-100b-us-investment-during-meeting-with-trump"> confirming earlier reports</a>.
What Happened: SoftBank CEO Masayoshi Son made the announcement alongside President-elect Donald Trump at Mar-a-Lago Monday, showing his confidence in the economic health of the U.S. since <a href="https://www.benzinga.com/politics/24/12/42511472/trump-hits-7-year-high-in-favorability-ratings-how-republicans-democrats-men-and-women-view-president-elect">Trump won the 2024 election.</a>
"My confidence level to the economy of the United States has tremendously increased with his victory," Son said, acknowledging Trump.
Son said he is excited to commit $100 billion and 100,000 jobs to the U.S. as a sign of confidence in what's to come.
"This is double of last time as President Trump said, because I say President Trump is a double down president. I'm going to have to double down."
Son said business is important and technology is important. The CEO also expressed confidence Trump can bring "the world into peace again."
"That's my additional hope."
Trump praised Son as one of the top voices and figures in emerging technology, calling him a "brilliant guy."
"This historic investment is a monumental demonstration of confidence in America's future, and it will help ensure that artificial intelligence, emerging technologies and other industries of tomorrow are built, created and grown right here in the U.S.A." Trump said.
Trump reminded people that SoftBank committed to invest $50 billion after the 2016 election and said that it kept that promise.
After Son spoke, Trump asked the SoftBank CEO if he would make it $200 billion, putting him on the spot for a larger commitment.
Son said his promise is for $100 billion.
"I will try to make it happen. He is a great negotiator," Son said.
Read Also: <a href="https://www.benzinga.com/news/global/24/11/41929194/nvidia-and-softbank-to-build-japans-top-ai-supercomputer-on-blackwell-platform-jensen-huang-says-tokyo-is-leaping-into-the-ai-industrial-revolution">Nvidia And SoftBank To Build Japan&#8217;s Top AI Supercomputer On Blackwell Platform — Jensen Huang Says Tokyo Is &#8216;Leaping Into The AI Industrial Revolution&#8217;</a>
Why It's Important: The $100 billion and jobs commitments will come over the next four years and could show a strengthened relationship between one of the largest Asian investment companies and the U.S.
Softbank is the owner of the Softbank Vision Fund, one of the largest technology-focused investment funds worldwide. The company is also a key investor in Arm Holdings and OpenAI.
"You'll have my support. You'll have our country's support," Trump said to Son.
The announcement could show strengthened relationships between the U.S. and Japan, which comes as the president-elect has<a href="https://www.benzinga.com/markets/24/11/42028954/peter-thiel-says-trumps-60-china-tariff-would-be-very-very-bad-for-beijing-heres-whats-at-stake"> threatened higher tariffs</a> on goods exported from China.
Since winning the 2024 election, business leaders from the U.S. and other countries flocked to gain support from Trump and push for future growth.
Jeff Bezos, Mark Zuckerberg and Sam Altman have<a href="https://www.benzinga.com/news/management/24/12/42485193/sam-altman-to-donate-1m-to-trumps-inauguration-fund-following-zuckerberg-bezos-eager-to-support"> each pledged $1 million</a> to Trump's inauguration fund through their companies or personal wealth. Apple CEO Tim Cook also <a href="https://www.benzinga.com/24/12/42495714/tim-cook-dines-with-donald-trump-at-mar-a-lago-to-strengthen-apples-position-as-zuckerberg-and-pichai-repair-ties-and-jeff-bezos-prepares-for-his-turn-report">recently met with</a> Trump in a potential show of support from the technology giant.
The world's richest man Elon Musk has been a supporter of Trump and is also set to have a role in the new White House administration as the co-leader of the Department of Government Efficiency. Musk's influence on Trump could lead to new government regulations that could benefit Tesla and SpaceX and help add to his wealth.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/42227972/softbank-secures-bigger-openai-stake-with-1-5b-employee-share-buyout-report">SoftBank Secures Bigger OpenAI Stake With $1.5B Employee Share Buyout: Report</a></li>
</ul>
Photo: NP27 on Shutterstock

Politics

Trump Says SoftBank's $100B Commitment To US Is 'Monumental Demonstration Of Confidence In America's Future'

Softbank (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) CEO Masayoshi Son is expected to declare a $100 billion investment in the United States during a meeting with President-elect Donald Trump at Mar-a-Lago, Palm Beach, Florida on Monday.
What Happened: The Japanese tech-investing giant&#8217;s founder will also commit to creating 100,000 jobs in AI and related infrastructure, according to <a href="https://www.cnbc.com/2024/12/16/softbank-ceo-to-announce-100-billion-investment-in-us-during-visit-with-trump.html">CNBC</a> sources. This investment is anticipated to be finalized by the end of Trump&#8217;s term.
The funding may come from various Softbank-controlled sources, including the Vision Fund, capital projects, or chipmaker Arm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), where Softbank holds a majority stake. Some of the funds might not be newly raised, potentially including previously announced investments like Softbank&#8217;s $1.5 billion in OpenAI.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499950/crypto-analyst-shiba-inu-price-set-for-massive-surge-could-go-up-sixfold?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Analyst: Shiba Inu Price Set For Massive Surge, Could Go Up Sixfold</a>
This announcement echoes a similar pledge made in 2016 when Softbank agreed&nbsp;to invest $50 billion in&nbsp;the U.S. to create 50,000 jobs following Trump&#8217;s first election victory.
Why It Matters: The announcement comes at a time when investor sentiment is shifting back toward the ‘BoJ trade,' a strategy involving long positions in Japanese equities and banks, while shorting the yen and Japanese government bonds (JGBs). This renewed interest has gained traction, especially after&nbsp;<a href="https://www.benzinga.com/24/12/42470155/trumps-win-kicks-the-boj-trade-back-into-gear-is-japan-the-new-inflation-play">Trump&#8217;s election win</a>, as noted by JPMorgan analyst Nikolaos Panigirtzoglou. The yen has weakened, moving from 150 to 153 against the dollar, and the probability of a December rate hike has dropped significantly.
Additionally, the backdrop of this investment includes <a href="https://www.benzinga.com/news/global/24/12/42502247/trumps-ex-secretary-of-state-mike-pompeo-backs-nippon-steels-149b-acquisition-of-us-steel-citing-national-security-concerns">national security concerns</a> surrounding foreign investments in the U.S. Former U.S. Secretary of State Mike Pompeo recently supported Nippon Steel Corp.&#8217;s proposed $14.9 billion acquisition of United States Steel Corp., citing the need to strengthen America's position against Chinese market dominance. This deal faces opposition from both President Joe Biden and Trump, with Biden expected to block it on national security grounds.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42497241/shiba-inu-burn-rate-skyrockets-515-33-will-the-price-increase?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Rate Skyrockets 515.33%</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo by Nobuyuki Hayashi on Shutterstock

General

Softbank's Masayoshi Son To Reportedly Announce $100B US Investment During Meeting With Trump

OpenAI enables employees to sell up to $1.5 billion worth of shares in a tender offer led by SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>). 
What Happened: The transaction, set to close by Dec 24, allows SoftBank to deepen its stake in the AI leader while offering liquidity to current and former employees, <a href="https://www.cnbc.com/2024/11/26/openai-gets-1point5-billion-investment-from-softbank-in-tender-offer.html">reported</a> CNBC, citing people familiar with the matter.
The deal, priced at $210 per share, aligns with OpenAI&#8217;s <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">recent $157 billion valuation</a>. SoftBank CEO Masayoshi Son drove the move, following a $500 million investment in OpenAI's last funding round. This marks another step in Son's aggressive AI strategy, with SoftBank's Vision Fund 2 also backing startups like Glean and Perplexity.
OpenAI, backed by $13 billion in funding from investors including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), has emphasized the importance of such tender offers amid a dormant IPO market. 
This initiative reflects the company&#8217;s commitment to employee satisfaction and continued capital-raising to sustain its growth in the <a href="https://www.benzinga.com/startups/24/10/41312615/investors-pour-billions-into-openai-whats-driving-this-unprecedented-surge-in-funding">competitive generative AI market</a>.
SoftBank and OpenAI did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42227693/blackrock-set-to-acquire-private-credit-manager-hps-for-12b-report">BlackRock Set To Acquire Private Credit Manager HPS For $12B: Report</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Startups

SoftBank Secures Bigger OpenAI Stake With $1.5B Employee Share Buyout: Report

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang on Wednesday said that he passed on an opportunity to acquire full ownership of the chipmaker, now valued at $3.6 trillion when SoftBank Group&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) Masayoshi Son offered financial backing years ago.
What Happened: During a candid exchange at Nvidia&#8217;s AI summit in Tokyo, Huang revealed that Son approached him about a decade ago with an offer to help finance a complete buyout of Nvidia, believing the stock market undervalued the company at the time.
&#8220;Now I regret not taking you up,&#8221; Huang told Son during their public conversation. &#8220;That was a great idea.&#8221;
The conversation took a lighter turn when Son playfully pretended to cry on Huang&#8217;s shoulder after discussing <a href="https://www.benzinga.com/markets/equities/24/06/39429393/regret-missing-out-on-nvidia-rally-youre-not-alone-as-softbanks-masayoshi-son-laments-157b-lost-">SoftBank&#8217;s early exit from Nvidia investments</a>. &#8220;We can cry together,&#8221; Huang joked. &#8220;Could you imagine if today, you were the largest shareholder?&#8221;
See Also: <a href="https://www.benzinga.com/24/11/41960833/cathie-wood-cashes-out-on-rocket-labs-28-surge-in-9m-share-sale-but-expands-bet-on-flying-cars">Cathie Wood Cashes Out On Rocket Lab&#8217;s 28% Surge in $9M Share Sale But Expands Bet On Flying Cars</a>
Why It Matters: Nvidia&#8217;s remarkable ascent has been fueled by the artificial intelligence boom, with the company&#8217;s chips playing a crucial role in powering AI technologies. The company&#8217;s stock has surged nearly 200% this year alone, propelling Huang&#8217;s net worth to $128 billion and making him the 11th richest person globally, according to the Bloomberg Billionaires Index.
The discussion preceded the announcement of a new <a href="https://www.benzinga.com/news/global/24/11/41929194/nvidia-and-softbank-to-build-japans-top-ai-supercomputer-on-blackwell-platform-jensen-huang-says-tokyo-is-leaping-into-the-ai-industrial-revolution">partnership between Nvidia and SoftBank</a> to develop Japan&#8217;s most powerful AI supercomputer, marking a significant development in Japan&#8217;s AI infrastructure expansion.
Son, who ranks 133rd on Bloomberg&#8217;s wealth index with a $15.9 billion fortune, has seen his wealth increase by more than $5 billion this year, though that pales in comparison to what might have been had SoftBank retained its earlier Nvidia investments.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/41961054/softbank-returns-to-profit-driven-by-indian-ipos-whats-next-for-masayoshi-son">SoftBank Is In Profit Once Again Thanks To Indian IPOs: What&#8217;s Next For Masayoshi Son?</a></li>
</ul>
Image via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Nvidia's CEO Reveals The Massive Deal He Missed And Why It Is Today A $3.6 Trillion Regret

SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) has made a significant financial turnaround, reporting a profit of $7.8 billion in its latest quarter, largely attributed to successful Indian <a href="https://www.benzinga.com/news/global/24/11/41929194/nvidia-and-softbank-to-build-japans-top-ai-supercomputer-on-blackwell-platform-jensen-huang-says-tokyo-is-leaping-into-the-ai-industrial-revolution">IPOs and improved tech valuations</a>.
What Happened: The Japanese conglomerate&#8217;s profit in the quarter ending September starkly contrasts the $6.05 billion loss in the same period last year, <a href="https://www.ft.com/content/a86569e7-8743-4474-a6a8-13a3f30085e3">reported</a> the Financial Times.
The Vision Fund, known for its high-risk, tech-heavy investments, contributed to this turnaround with a $3.95 billion profit. This is the first time in nine quarters that the Vision Fund&#8217;s cumulative investment gains have turned positive.
Notable IPOs in India, including those of Ola Electric and FirstCry, have significantly boosted SoftBank&#8217;s valuations. The company&#8217;s CFO, Yoshimitsu Goto, highlighted the positive impact of these IPOs, which lifted valuations by $1.7 billion.
Other factors contributing to SoftBank&#8217;s improved financial position include valuation gains at Coupang in South Korea and DiDi in China, as well as a favorable impact on net income from the weak yen.
See Also: <a href="https://www.benzinga.com/24/11/41890968/bitcoin-kisses-89500-ethereum-dogecoin-extend-trump-victory-rally-how-long-before-btc-hits-100000-analysts-reveal?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Hovers Around $90K, Ethereum, Dogecoin Extend Trump Victory Rally: How Long Before BTC Hits $100,000? Analysts Reveal</a>
Why It Matters: SoftBank&#8217;s <a href="https://www.benzinga.com/news/24/08/40387488/masayoshi-sons-plans-to-rival-nvidia-with-softbanks-own-ai-chip-production-hit-a-roadblock-as-intel">interest in AI</a> has been a recurring theme, with CEO Masayoshi Son predicting the advent of artificial superintelligence within a decade.
More recently, SoftBank has been in the news for its plans to rival Nvidia with its own AI chip production. However, these plans hit a roadblock as negotiations with Intel <a href="https://www.benzinga.com/news/24/08/40387488/masayoshi-sons-plans-to-rival-nvidia-with-softbanks-own-ai-chip-production-hit-a-roadblock-as-intel">reportedly fell through</a>. This latest financial success may provide SoftBank with the resources to further pursue its AI ambitions.
In August, SoftBank <a href="https://www.benzinga.com/markets/asia/24/08/40213337/masayoshi-sons-softbank-announces-3-4b-share-buyback-as-vision-fund-tech-arm-yields-investment-gains">announced a $3.4 billion share buyback program</a>, following pressure from concerned shareholders. 
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<li><a href="https://www.benzinga.com/news/legal/24/11/41960485/nvidias-crypto-past-returns-to-haunt-as-supreme-court-signals-green-light-for-lawsuit">Nvidia&#8217;s Crypto Past Returns To Haunt As Supreme Court Signals Green Light For Lawsuit</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

SoftBank Is In Profit Once Again Thanks To Indian IPOs: What's Next For Masayoshi Son?

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) announced a partnership on Tuesday to establish Japan&#8217;s most powerful artificial intelligence supercomputer, marking a significant step in the country&#8217;s push to become a global AI powerhouse.
What Happened: The collaboration unveiled at the Nvidia AI Summit Japan, centers on SoftBank&#8217;s implementation of Nvidia&#8217;s advanced Blackwell platform and plans to utilize the Nvidia Grace Blackwell platform for future supercomputing initiatives.
&#8220;Japan has a long history of pioneering technological innovations with global impact,&#8221; said Jensen Huang, Nvidia&#8217;s founder and CEO. &#8220;With SoftBank&#8217;s significant investment in Nvidia&#8217;s full-stack AI, Omniverse and 5G AI-RAN platforms, Japan is leaping into the AI industrial revolution.&#8221;
SoftBank has successfully piloted the world&#8217;s first combined AI and 5G telecom network using Nvidia&#8217;s AI Aerial platform. This innovation could potentially generate billions in new revenue for global telecom operators by transforming base stations from cost centers into AI revenue-producing assets.
&#8220;Countries and regions worldwide are accelerating the adoption of AI for social and economic growth,&#8221; said Junichi Miyakawa, SoftBank&#8217;s president and CEO. &#8220;Through our long collaboration with Nvidia, SoftBank is leading this transformation from the forefront.&#8221;
The partnership includes several key initiatives:
<ul>
<li>SoftBank will receive the world&#8217;s first Nvidia DGX B200 systems for its new DGX SuperPOD supercomputer</li>
<li>Development of an AI marketplace using Nvidia AI Enterprise software</li>
<li>Implementation of Nvidia&#8217;s AI-RAN solution, which SoftBank estimates can reduce power consumption by 40% compared to traditional 5G infrastructure</li>
</ul>
See Also: <a href="https://www.benzinga.com/tech/24/11/41927135/greg-brockman-returns-to-work-at-chatgpts-parent-company-back-to-building-openai">Greg Brockman Returns To Work At ChatGPT&#8217;s Parent Company: &#8216;Back To Building OpenAI&#8217;</a>
Why It Matters: The collaboration represents a strategic shift for both companies, with SoftBank estimating potential returns of up to 219% for each AI-RAN server added to its infrastructure. The company plans to begin global deployment of its AI-RAN solution, dubbed &#8220;AITRAS,&#8221; in 2026.
This partnership follows SoftBank&#8217;s <a href="https://www.benzinga.com/markets/equities/24/07/39743441/after-losing-150b-nvidia-opportunity-masayoshi-sons-softbank-acquires-uk-chipmaker-graphcore-in-">recent moves in the AI sector</a>, including its $960 million investment commitment for developing Japanese-language AI models and its acquisition of UK-based chipmaker Graphcore.
The initiative is expected to accelerate Japan&#8217;s position in the global AI race while providing new opportunities for telecommunications, transportation, robotics, and healthcare industries.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/41928272/cathie-woods-ark-invest-foresees-crypto-industry-boost-under-incoming-trump-administration">Cathie Wood-Led Ark Sees Boost For Bitcoin, Crypto Under Trump Administration, Says IPO Window For Circle, Kraken Could Reopen</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Nvidia And SoftBank To Build Japan's Top AI Supercomputer On Blackwell Platform — Jensen Huang Says Tokyo Is 'Leaping Into The AI Industrial Revolution'

SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) reported quarterly losses of $(0.40) per share. This is a 67.21 percent increase over losses of $(1.22) per share from the same period last year. The company reported $10.92 billion in sales this quarter. This is a 3.82 percent decrease over sales of $11.35 billion the same period last year.

Earnings

SoftBank Group Q1 EPS $(0.40) Up From $(1.22) YoY, Sales $10.92B Down From $11.35B YoY

<a href="https://www.semafor.com/article/10/21/2024/apollo-softbank-eyed-giant-ai-investment-fund">https://www.semafor.com/article/10/21/2024/apollo-softbank-eyed-giant-ai-investment-fund</a>
&nbsp;
<h3>The Scoop</h3>
SoftBank and Apollo discussed a giant fund to invest in data centers, chip factories, and other AI projects, joining a stampede of capital rushing to fund the next digital revolution.
The two talked about setting up a fund of more than $20 billion, people familiar with the matter said, though the talks have cooled since the summer and may go nowhere. The venture would likely involve industry partners including Arm, the chip giant that is majority-owned by SoftBank, the people said. One person familiar with the matter said SoftBank had also had talks with other funding sources, though those with Apollo were the most advanced.
SoftBank CEO Masayoshi Son has been <a href="https://www.bloomberg.com/news/articles/2024-02-16/masayoshi-son-seeks-to-build-a-100-billion-ai-chip-venture">looking for a deep-pocketed partner</a> to build a competitor to Nvidia, which dominates the market for high-end AI chips, Bloomberg reported in February. He's no stranger to giant, bet-the-farm funds that underwrite whole sectors. His $100 billion Vision Fund, launched in 2017, did as much as any investor to inflate the unicorn bubble, and overbet on startups only lightly enabled by tech, like on-demand dog-walking and, famously, WeWork.
Now Son is all in on artificial intelligence, which he says will be 10 times smarter than all of human intelligence by 2030 and <a href="https://www.cnbc.com/2024/06/21/softbank-ceo-predicts-ai-that-is-10000-times-smarter-than-humans-.html">10,000 times</a> smarter a few years after that. He has <a href="https://www.wsj.com/tech/ai/softbanks-son-says-artificial-general-intelligence-will-soon-surpass-humans-8bcdb47f?mod=tech_lead_story">admitted to asking ChatGPT</a> for investment advice, warned that companies have to "take advantage of it or be left behind," and in a presentation slide that was <a href="https://www.businessinsider.com/softbank-ceo-masayoshi-son-on-ai-doubters-being-left-behind-2023-10">puzzling</a> even by Son's enigmatic standards, compared AI doubters to goldfish.
Representatives for both companies declined to comment.

'Apollo, SoftBank Discussed A Giant Fund To Invest In Data Centers' - Semafor

In a bid to restructure its operations, Jellysmack, a SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>)-backed creator-economy startup, is laying off employees and reducing its creator program.
What Happened: Jellysmack is undergoing a reorganization and will be downsizing its workforce, <a href="https://www.businessinsider.in/tech/news/jellysmack-is-laying-off-staff-as-it-scales-back-its-creator-program/articleshow/114434680.cms">reported</a> Business Insider. The company has confirmed that 22 U.S.-based employees will be affected, with French employees also facing potential layoffs in the coming months.
The company is shifting its focus to its content business, which includes YouTube channels like Gamology, House of Bounce, Beauty Studio, and Oh My Goal. It is scaling back a program that helped creators earn money by posting content on Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)-owned apps like Facebook.
&#8220;Jellysmack is making organizational adjustments to better align resources with key areas of growth,&#8221; a company representative said according to the report. &#8220;Jellysmack&#8217;s goal is to prioritize and invest in our business units that hold IP, given their continued success on YouTube.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420488/shiba-inu-ready-for-a-lift-off-to-the-moon-popular-analyst-predicts-50-surge-for-memecoin-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Ready For A Lift-Off To The Moon? Popular Analyst Predicts 50% Surge For Memecoin As Burn Rate Spikes 389%</a>
This move comes after Jellysmack faced challenges in its business, including a decrease in monetization across platforms. The company, which initially focused on creating its own YouTube content, shifted to working with other creators to edit and recirculate their content across platforms like Facebook and Snap Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) Snapchat to capture additional ad revenue.
Why It Matters: Jellysmack&#8217;s decision to restructure its operations and focus on its content business comes at a time when the creator economy is undergoing significant changes. Meta Platforms Inc. has also been <a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle">restructuring its operations and laying off employees</a> across Instagram, WhatsApp, and Reality Labs. This is part of a broader trend of tech companies reevaluating their strategies and operations, which has been ongoing for some time.
This was part of a strategic reshuffle aimed at boosting efficiency. The company has also been <a href="https://www.benzinga.com/news/24/03/37501959/meta-employees-fear-layoffs-as-companys-year-of-efficiency-becomes-permanent-report">undergoing a prolonged process of evaluating individual employee performance for 2023</a>, with the reviews now concluding. This has left many employees anxious about their job security.
Read Next: 
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<li><a href="https://www.benzinga.com/general/entertainment/24/10/41348553/jay-z-praised-by-warren-buffett-as-the-guy-to-learn-from-once-said-he-wasnt-taught-emotiona?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jay-Z, Praised by Warren Buffett as &#8216;The Guy to Learn From,&#8217; Once Said He Wasn&#8217;t Taught Emotional Intelligence, But How To Survive — The Rap Legend&#8217;s Growth Has Made Him Not Just A Better Person, But Also Worth $2.5B Today</a></li>
</ul>
Image Via Unsplash 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Social Media

SNAP

SoftBank-Backed Jellysmack Restructures, Lays Off Employees, And Scales Back Creator Program On Meta Platforms

Masayoshi Son, CEO of SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>), has forecasted the <a href="https://www.benzinga.com/markets/24/09/40836225/human-like-reasoning-strawberry-ahead-aggressive-nvidia-buying-hotter-inflation-data">advent of artificial superintelligence</a> within the next ten years. This revelation was shared during the SoftBank World 2024 conference.
What Happened: Son, Japan&#8217;s second wealthiest individual, commended OpenAI for its recent technological strides. He specifically mentioned the new GPT-o1 models, codenamed &#8220;Strawberry,&#8221; which he believes have developed reasoning capabilities, <a href="https://observer.com/2024/10/softbank-masayoshi-son-ai-openai-investment/">reported</a> the Observer on Friday. 
"This technology will evolve to a point&nbsp;where your happiness will be its greatest reward," said Son. He claimed that ASI, which would be 10,000 times more powerful than human intelligence, could be achieved within a decade.
Son envisions a future where AI can perform everyday tasks, such as grocery shopping and investment management, ultimately enhancing human happiness. His optimistic outlook is consistent with his history of making bold tech investments.
Looking forward, Son anticipates the achievement of artificial general intelligence, which matches human intelligence, within two to three years. 
He also predicts artificial superintelligence, surpassing human capabilities, within a decade. SoftBank&#8217;s AI strategy is centered around ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), a U.K.-based chip designer, with plans to expand into AI chips, data centers, and industrial robots.
See Also: <a href="https://www.benzinga.com/news/24/09/41020589/tech-youtuber-mkbhd-responds-after-facing-massive-backlash-over-his-new-12-a-month-wallpaper-app?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tech YouTuber MKBHD Responds After Facing Massive Backlash Over His New $12 A Month Wallpaper App</a>
Why It Matters: Son&#8217;s prediction comes amid <a href="https://www.benzinga.com/markets/24/09/40836225/human-like-reasoning-strawberry-ahead-aggressive-nvidia-buying-hotter-inflation-data">growing interest</a> in A.I. advancements, particularly with OpenAI&#8217;s &#8220;Strawberry&#8221; models. These models are noted for their human-like reasoning capabilities, which could revolutionize various industries.
However, <a href="https://www.benzinga.com/news/24/08/40387488/masayoshi-sons-plans-to-rival-nvidia-with-softbanks-own-ai-chip-production-hit-a-roadblock-as-intel">SoftBank&#8217;s ambitions</a> to rival NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in A.I. chip production reportedly faced setbacks when talks with Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell through. Despite this, SoftBank is exploring partnerships with other manufacturers like Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
Additionally, Son&#8217;s focus on AI aligns with Sam Altman&#8216;s commitment to <a href="https://www.benzinga.com/news/24/05/38608040/openais-sam-altman-says-were-making-agi-and-it-will-be-worth-it-dont-care-if-we-burn-500m-or-50b">developing artificial general intelligence</a>, regardless of the financial cost. This shared vision underscores the significant investments and strategic shifts occurring in the A.I. sector.
Interestingly, SoftBank&#8217;s past decision to sell its Nvidia shares in 2019 resulted in a missed opportunity, as those shares would <a href="https://www.benzinga.com/general/24/06/39489510/the-150-billion-opportunity-softbank-lost-by-selling-nvidia-shares-too-soon">now be approximately worth over $150 billion</a>. This highlights the high stakes and rapid evolution of the AI and tech investment landscape.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s SearchGPT Set To Disrupt Google&#8217;s Search Empire As Former Engineer Sounds Alarm On Deteriorating User Experience Amid Rising Competition</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

SoftBank's Masayoshi Son Predicts Artificial Superintelligence Within A Decade After Testing OpenAI's 'Strawberry' Models

Struggling chipmaker Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)&nbsp;continues to receive <a target="_blank" href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo" rel="noreferrer noopener">takeover proposals from</a> chip companies, the latest being Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) following Qualcomm Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) proposal earlier.
Arm Holdings recently proposed to acquire Intel&#8217;s product unit. However, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-27/arm-rejected-by-intel-after-approaching-it-about-buying-product-unit?sref=TBDibEcD" rel="noreferrer noopener">reports</a> that Intel is not looking to sell the business division.
Intel stock plunged 31% as it failed to capitalize on the artificial intelligence shift, which is something that contract chipmaker Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) excelled at.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/41012678/super-micro-unveils-next-gen-servers-powered-by-intels-latest-xeon-chips" rel="noreferrer noopener">Super Micro Unveils Next-Gen Servers Powered by Intel&#8217;s Latest Xeon Chips</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27091711/newplot-1-7.png" alt="" class="wp-image-569782" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27091711/newplot-1-7.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27091711/newplot-1-7-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Meanwhile, some reports indicated Intel&#8217;s plans to convert its <a target="_blank" href="https://www.benzinga.com/news/24/09/40897994/whats-going-on-with-intel-stock-on-tuesday" rel="noreferrer noopener">foundry business into</a> an independent unit, including exploring a spinoff into a publicly traded company. The chipmaker also explored divesting stake in the programmable chip unit&nbsp;Altera.
However, Intel&#8217;s recent big wins included a&nbsp;U.S. chipmaking deal from&nbsp;Amazon.Com Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web services and the U.S. Chip grant.
The chipmaker also clarified that it would not divest a majority stake in the struggling <a target="_blank" href="https://www.benzinga.com/news/24/09/40941075/whats-going-on-with-autonomous-driving-stock-mobileye-thursday" rel="noreferrer noopener">Israeli autonomous driving company</a> Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), whose stock is down 66% in the last 12 months.
Intel&#8217;s exploration of stake sales to companies like Qualcomm and Arm could hinder its U.S. subsidy over antitrust grounds, the Financial Times <a target="_blank" href="https://www.ft.com/content/ff0ca77d-ad35-45ba-a493-201a26932efb" rel="noreferrer noopener">reports</a>.
Multiple deals including Nvidia&#8217;s proposal to snap Arm Holdings from&nbsp;Softbank Group Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) and Intel&#8217;s&nbsp;Tower Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) deal have succumbed to global regulatory opposition.
The semiconductor sector had a good week, buoyed by the <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/41046485/whats-going-on-with-nvidia-braodcom-intel-and-other-chip-stocks-on-thursday" rel="noreferrer noopener">key rate cuts</a> in the U.S. and China, an upbeat quarterly print from Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), and continued AI investments from Big Tech companies.
Semiconductor ETFs, Invesco Semiconductors ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSI#NYSE">PSI</a>) and SPDR S&amp;P Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>), gained 5%- 7% in the last five days.
Price Action: INTC stock is down 0.04% at $23.91 at the last check on Friday.
Photo via Shutterstock

Media

AAPL

MBLY

PowerShares Exchange-Traded Fund Trust Dynamic Semiconductor Portfolio

QCOM

TSEM

What's Going On With Intel Stock On Friday?

Rick Cohen, founder of Symbotic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>), has seen $9 billion erased from his net worth following a significant drop in his AI-powered company&#8217;s stock price.
What Happened: Cohen, who owns and chairs C&amp;S Wholesale Grocers, founded Symbotic which manufactures AI-driven warehouse robots. Symbotic went public in mid-2022 via a special-purpose acquisition vehicle and has been backed by Masayoshi Son&#8216;s SoftBank Group Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) and American retail Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>).
Cohen&#8217;s net worth was $21.4 billion at the start of January, placing him 94th on the Bloomberg Billionaires Index. However, his wealth has plummeted by 41% to $12.6 billion this year, dropping him to 178th place, Business Insider<a href="https://www.businessinsider.in/finance/news/a-grocery-tycoon-turned-walmart-robotics-supplier-is-one-of-this-years-biggest-wealth-losers-after-9-billion-wipeout/amp_articleshow/113001040.cms"> reported</a> on Tuesday.
Symbotic&#8217;s stock, which surged over 325% last year, has fallen more than 60% in 2024. According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, the stock closed at $19.20 on Monday. The company&#8217;s value has now decreased to under $10 billion.
The decline is attributed to construction delays and increased implementation costs, which have squeezed profit margins. Symbotic also faces a class-action lawsuit alleging it misled the market about its growth prospects.
See Also: <a href="https://www.benzinga.com/news/24/08/40666864/rudy-giulianis-legal-troubles-deepen-former-georgia-election-workers-seek-to-seize-assets?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Rudy Giuliani&#8217;s Legal Troubles Deepen: Former Georgia Election Workers Seek To Seize Assets</a>
Why It Matters: The dramatic decline in Symbotic&#8217;s stock price comes on the heels of its <a href="https://www.benzinga.com/news/earnings/24/07/40023494/symbotic-stock-falls-on-q3-earnings-what-investors-need-to-know">third-quarter financial results. </a>Symbotic&#8217;s shares plummeted in after-hours trading following the release of these results. The company reported increased costs and delays in its projects, which have significantly impacted its profitability.
These financial troubles have not only affected the company&#8217;s stock but have also led to a substantial decrease in the net worth of its founder. A class-action lawsuit, filed today, further compounds the company&#8217;s woes, alleging that Symbotic misled investors about its growth potential.
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Image via Symbotic
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

SoftBank, Walmart-Backed Robotics Giant Sees $9B Wipeout In Founder's Wealth After Company Stock That Surged Nearly 325% Last Year Takes A Steep Decline

Chinese tech giants Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and Tencent Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) are significantly increasing their investments in artificial intelligence startups, despite a general decrease in their overall investments.
What Happened: Since 2023, Alibaba and Tencent have directed 40% and 30% of their deals in China, respectively, toward AI startups, marking record-high investments in the sector for both companies, <a href="https://www.wsj.com/tech/ai/alibaba-tencent-cast-wide-net-for-ai-upstarts-efed55ee">reported</a> The Wall Street Journal on Wednesday. 
This shift in focus comes at a time when the two tech giants have been scaling back their investments due to regulatory challenges, the impact of the COVID-19 pandemic, and a slowing Chinese economy.
Despite these challenges, both companies have identified AI as a strategic priority. They aim to leverage the technology to strengthen their market influence and technological edge. 
This renewed focus on AI is seen as a move to drive profits and expand their cloud services, which offer access to AI computing power and foundational AI models developed in-house. Wei Sun, senior analyst at market research firm Counterpoint Research stated "Investment in AI startups is a strategic effort to strengthen their technological edge and expand market influence," according to the report. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40453509/shiba-inu-lead-developer-shytoshi-kusama-opens-up-on-revealing-true-identity-heres-what-wa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Lead Developer Shytoshi Kusama Opens Up On Revealing True Identity — Here&#8217;s What Was Said</a>
"Generative AI holds massive business potential, and no tech giant would want to miss the opportunity," Charlie Dai, an analyst at market research company&nbsp;Forrester said, according to the report. "Investing in leading startups, even [ones that have already received investment from] competitors, will help tech giants to grasp the opportunities as much as they can."
Alibaba and Tencent have been instrumental in the growth of six Chinese AI startups, each valued at over $1 billion. These startups, known as China&#8217;s &#8220;Little Artificial-Intelligence Dragons,&#8221; have received significant funding from both companies.
Why It Matters: The increased investment in AI startups by Alibaba and Tencent is a significant development in the global AI landscape. This move comes at a time when Asian startups are <a href="https://www.benzinga.com/markets/asia/24/08/40409572/nvidia-ai-dominance-challenged-by-asian-startups-betting-on-energy-efficient-and-cost-effective-sili">challenging the dominance</a> of NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in the AI chip market by developing more energy-efficient and cost-effective chips for specific AI applications.
Alibaba, in particular, has been heavily investing in generative AI, <a href="https://www.benzinga.com/news/24/06/39255392/alibaba-claims-its-new-ai-model-beats-metas-llama-3-promising-major-advancements">claiming that its new AI models</a> outperform Meta Platforms Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Llama 3 in specific tasks. The company is also set to <a href="https://www.benzinga.com/news/24/07/40076860/alibaba-to-boost-b2b-e-commerce-with-new-ai-sourcing-engine-launch-in-september">launch an AI-powered conversational sourcing engine</a> in September to enhance the buying and selling of goods online.
Furthermore, SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) recently <a href="https://www.benzinga.com/markets/equities/24/07/39743441/after-losing-150b-nvidia-opportunity-masayoshi-sons-softbank-acquires-uk-chipmaker-graphcore-in-">acquired UK-based chipmaker</a> Graphcore to bolster its AI capabilities. This acquisition highlights the growing importance of AI infrastructure, including semiconductors and systems, in the tech industry.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40457660/top-analyst-says-nvidia-poised-for-strong-q2-results-theres-still-a-ton-of-spending?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Top Analyst Says Nvidia Poised For Strong Q2 Results: &#8216;There&#8217;s Still A Ton Of Spending On The AI Chips&#8217;</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

BABA

TCEHY

Chinese Tech Giants Alibaba And Tencent Ramp Up AI Investments, With Nearly A Third Of Deals Since 2023 Aimed At AI Startups

A study by the Network Contagion Research Institute (NCRI) in collaboration with Rutgers University suggests that ByteDance-owned social media platform TikTok&#8216;s algorithm promotes <a href="https://www.benzinga.com/news/24/08/40357239/tiktok-algorithm-boosts-pro-chinese-communist-party-content-suppresses-criticism-according-to-new-st" target="_blank" rel="noreferrer noopener">content favoring the Chinese government</a>.
In a bid to enhance its&nbsp;disaster response capabilities, the&nbsp;Tokyo metropolitan government has launched&nbsp;an AI system designed to quickly&nbsp;detect fires and building <a target="_blank" href="https://www.benzinga.com/news/24/08/40359634/tokyo-turns-to-ai-for-swift-fire-and-building-collapse-response-following-japans-historic-megaquake" rel="noreferrer noopener">collapses&nbsp;during major earthquakes</a>.
Gaming
Epic Games&nbsp;is expanding its popular battle royale game Fortnite through a new collaboration with&nbsp;Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), which will introduce a variety of characters <a target="_blank" href="https://www.benzinga.com/top-stories/24/08/40322467/disney-characters-join-fortnite-in-latest-collaboration-with-epic-games" rel="noreferrer noopener">from Star Wars, Marvel, and&nbsp;Pixar</a>.
A recent update on Sony Group Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation Store has reignited speculation that Red Dead Redemption could finally be <a href="https://www.benzinga.com/general/gaming/24/08/40344790/is-red-dead-redemption-coming-to-pc-playstation-store-sparks-rumors" target="_blank" rel="noreferrer noopener">making its way to PC</a>.
Sony officially&nbsp;revealed&nbsp;the lineup of games joining the PlayStation Plus Games Catalog for&nbsp;August 2024, including The Witcher 3: Wild Hunt, Cult <a target="_blank" href="https://www.benzinga.com/general/gaming/24/08/40379868/playstation-plus-august-2024-the-witcher-3-watch-dogs-2-more-join-the-lineup" rel="noreferrer noopener">of the Lamb, and Watch Dogs 2</a>.
Krafton, the publisher behind the popular battle royale game PUBG, has officially acquired&nbsp;Tango Gameworks&nbsp;and the&nbsp;Hi-Fi Rush&nbsp;intellectual property (IP) from Xbox, ensuring the continued <a target="_blank" href="https://www.benzinga.com/general/gaming/24/08/40320631/krafton-saves-tango-gameworks-acquires-hi-fi-rush-ip-from-xbox" rel="noreferrer noopener">development and&nbsp;future of the game studio</a>.
Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/08/40348853/terminator-survivors-pushed-to-2025-we-believe-this-is-the-right-call-developer-says" rel="noreferrer noopener">Terminator: Survivors Pushed To 2025 — &#8216;We Believe This Is The Right Call,&#8217; Developer Says</a>
Nintendo has reportedly informed developers that the release of its next gaming console, often referred to as the &#8220;Switch 2,&#8221; <a target="_blank" href="https://www.benzinga.com/news/24/08/40375035/nintendos-switch-2-delay-what-we-know-about-the-upcoming-console" rel="noreferrer noopener">will likely not occur before April 2025</a>.
Valve&#8217;s new game, Deadlock, has recently gained considerable traction despite not being officially announced, with the number of concurrent <a target="_blank" href="https://www.benzinga.com/general/gaming/24/08/40353097/valves-deadlock-achieves-19-000-concurrent-players-in-early-access" rel="noreferrer noopener">players surpassing&nbsp;19,000 earlier.</a>
Elon Musk
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk&#8216;s social media platform X is under fire for allegedly using the data of European Union users to train artificial <a href="https://www.benzinga.com/news/24/08/40306063/elon-musks-x-faces-eu-backlash-over-alleged-unauthorized-use-of-user-data-to-train-ai-models-sparkin" target="_blank" rel="noreferrer noopener">intelligence models without their consent</a>.
Elon Musk has&nbsp;teased the impending launch&nbsp;of&nbsp;the&nbsp;Grok 2&nbsp;beta version, an advanced AI chatbot <a target="_blank" href="https://www.benzinga.com/news/24/08/40306154/elon-musk-teases-the-imminent-release-of-grok-2-beta-version-with-a-cryptic-image-of-robot-smoking-c" rel="noreferrer noopener">developed by his company,&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/08/40306154/elon-musk-teases-the-imminent-release-of-grok-2-beta-version-with-a-cryptic-image-of-robot-smoking-c" rel="noreferrer noopener">xAI</a>.
Smartphones
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has decided to revise its&nbsp;Photos&nbsp;app&nbsp;in the forthcoming&nbsp;iOS 18&nbsp;and&nbsp;iPadOS 18, following <a target="_blank" href="https://www.benzinga.com/news/24/08/40305265/apple-has-reportedly-reversed-ios-18-photos-app-changes-in-response-to-user-criticism-heres-what-hap" rel="noreferrer noopener">negative feedback from users</a>.
Apple&nbsp;is rumored to be working on a thinner version of the iPhone 17, which could potentially&nbsp;return the company&#8217;s <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40332493/apples-thinner-iphone-17-air-with-sleeker-design-could-be-a-game-changer-says-promi" rel="noreferrer noopener">flagship product to meaningful growth</a>.
Apple&#8216;s Indian venture has reportedly crossed the $20 billion revenue threshold in India in just three years of <a href="https://www.benzinga.com/markets/asia/24/08/40358753/apple-is-now-indias-fastest-growing-manufacturer-in-50-years-report" target="_blank" rel="noreferrer noopener">starting manufacturing in the country</a>.
Amid the search for&nbsp;new revenue sources,&nbsp;Apple has reportedly decided to develop a tabletop home device.&nbsp;The device uses a thin robotic arm to move a large,&nbsp;iPad-like screen, offering a twist on home products like&nbsp;Amazon&#8217;s Echo Show 10&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/08/40385441/apples-tabletop-ipad-robot-with-limbs-could-make-its-way-to-your-home-by-2027-heres-what-this-twist" rel="noreferrer noopener">and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/08/40385441/apples-tabletop-ipad-robot-with-limbs-could-make-its-way-to-your-home-by-2027-heres-what-this-twist" rel="noreferrer noopener">Meta&#8217;s</a><a target="_blank" href="https://www.benzinga.com/news/24/08/40385441/apples-tabletop-ipad-robot-with-limbs-could-make-its-way-to-your-home-by-2027-heres-what-this-twist" rel="noreferrer noopener">&nbsp;discontinued portal</a>.
Streaming Platform &amp; Others
In a significant rebranding move, DirecTV is now positioning itself as a streaming service, eliminating the need for a satellite dish to access its content. The company is launching a new ad campaign to communicate <a target="_blank" href="https://www.benzinga.com/news/24/08/40314001/directv-transforms-into-streaming-service-satellite-dish-no-longer-needed" rel="noreferrer noopener">this change to its customers</a>.
Following a previous rejection by&nbsp;Apple, music streaming behemoth,&nbsp;Spotify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), has announced that it will now display its pricing information on its app for <a target="_blank" href="https://www.benzinga.com/news/24/08/40369893/apple-finally-gives-in-allows-spotify-to-show-alternative-pricing-on-its-outside-of-app-store" rel="noreferrer noopener">Apple devices in the European Union</a>.
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/08/40377185/steam-tightens-store-page-rules-developers-can-no-longer-add-external-links" rel="noreferrer noopener">Steam Tightens Store Page Rules: Developers Can No Longer Add External Links</a>
Technology
Turkish President Recep Tayyip Erdogan&#8216;s government has lifted its nine-day ban on Meta Platforms, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Instagram, following the Mark Zuckerberg-led social media platform&#8217;s agreement<a href="https://www.benzinga.com/news/24/08/40304968/metas-instagram-back-online-in-turkey-after-9-days-as-recep-tayyip-erdogans-government-lifts-ban" target="_blank" rel="noreferrer noopener"> to comply with Turkey&#8217;s demands</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40305575/after-trump-campaign-blames-foreign-sources-hostile-to-the-us-for-cyberattack-ex-white-house-officia" rel="noreferrer noopener">After Trump Campaign Blames&#8217; Foreign Sources Hostile To The US&#8217; For Cyberattack, Ex-White House Officials Say&#8217; Buckle Up…Someone Is Running The 2016 Playbook&#8217;</a>
At Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) &#8220;Made by Google&#8221; event, the tech giant&#8217;s AI assistant Gemini faced two consecutive <a href="https://www.benzinga.com/news/24/08/40356757/made-by-google-event-marred-by-absence-of-demo-spirits-gemini-fails-twice-during-live-session-pixel" target="_blank" rel="noreferrer noopener">glitches during a live demonstration</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40391576/mark-zuckerberg-explains-why-facebook-beat-google-microsoft-and-yahoo-who-were-fumbling-around-we-we" rel="noreferrer noopener">Mark Zuckerberg Explains Why Facebook Beat Google, Microsoft, And Yahoo Who Were &#8216;Fumbling Around:&#8217; &#8216;We Were Like A Ragtag Group Of Children&#8217;</a>
Alphabet&#8217;s former CEO and Chair Eric Schmidt discussed the reasons behind Google&#8216;s loss of <a href="https://www.benzinga.com/news/24/08/40357903/google-co-founder-eric-schmidt-blames-work-from-home-flexible-hours-for-falling-behind-openai-praise" target="_blank" rel="noreferrer noopener">initiative to </a><a href="https://www.benzinga.com/news/24/08/40357903/google-co-founder-eric-schmidt-blames-work-from-home-flexible-hours-for-falling-behind-openai-praise" target="_blank" rel="noreferrer noopener">ChatGPT</a><a href="https://www.benzinga.com/news/24/08/40357903/google-co-founder-eric-schmidt-blames-work-from-home-flexible-hours-for-falling-behind-openai-praise" target="_blank" rel="noreferrer noopener">-maker </a><a href="https://www.benzinga.com/news/24/08/40357903/google-co-founder-eric-schmidt-blames-work-from-home-flexible-hours-for-falling-behind-openai-praise" target="_blank" rel="noreferrer noopener">OpenAI</a>.
Google&nbsp;by&nbsp;Alphabet unveiled its latest Pixel 9 series, boasting a sleek design and cutting-edge features, <a target="_blank" href="https://www.benzinga.com/news/24/08/40369674/5-top-features-of-googles-iphone-competitor-pixel-9" rel="noreferrer noopener">at the Made by Google event.</a>
Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40386274/google-says-opening-up-its-app-store-is-expensive-and-too-much-work-gets-told-by-judge-were-going-to" rel="noreferrer noopener">Google Says Opening Up Its App Store Is Expensive And Too Much Work, Gets Told By Judge, &#8216;We&#8217;re Going To Tear The Barriers Down&#8217;</a>
Artificial Intelligence (AI)
The initial enthusiasm for the AI capabilities of Samsung Electronics Co., Ltd.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) Galaxy S24 appears to be dwindling, as shipment momentum has slowed since <a href="https://www.benzinga.com/news/24/08/40329712/ai-hype-for-samsung-galaxy-s24-starts-dying-out-6-months-after-launch-says-top-analyst-how-will-the" target="_blank" rel="noreferrer noopener">April, six months after its launch</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40329545/trump-left-shocked-by-power-hungry-ai-tells-elon-musk-requires-twice-the-energy-that-the-country-alr" rel="noreferrer noopener">Trump Left Shocked By Power-Hungry AI, Tells Elon Musk: &#8216;Requires Twice The Energy That The Country Already Produces&#8217;</a>
In a recent development,&nbsp;SoftBank Group Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) has hit a snag in its plans to produce an artificial intelligence (AI) chip that could rival&nbsp;Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). The Japanese conglomerate&#8217;s negotiations with&nbsp;Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) have reportedly collapsed due to Intel&#8217;s failure to<a href="https://www.benzinga.com/news/24/08/40387488/masayoshi-sons-plans-to-rival-nvidia-with-softbanks-own-ai-chip-production-hit-a-roadblock-as-intel" target="_blank" rel="noreferrer noopener"> meet SoftBank&#8217;s production demands</a>.
Eric Schmidt, former CEO of&nbsp;Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, walked back his remarks&nbsp;where he blamed&nbsp;the search giant&#8217;s focus on work-life balance and remote work for it losing out to AI startups like&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/08/40388888/ex-google-ceo-eric-schmidt-walks-back-remarks-blaming-work-life-balance-and-remote-work-for-search-g" rel="noreferrer noopener">Microsoft Corp.-backed OpenAI, and&nbsp;Anthropic</a>.

Sony Group Corporation American Depositary Shares

SONY

SPOT

SSNLF

TSLA

Consumer Tech News (Aug 11-Aug 17): Research Says TikTok Favors Chinese Government, Apple Plans Thinner Version Of iPhone 17 & More

Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>), a cutting-edge healthcare diagnostics company, has been on a tear. The stock established a new high of <a href="https://www.benzinga.com/quote/TEM">$47.81 on Thursday</a>.
The stock is up 17.27% since its IPO in June. The company, which went public at $37 per share, and has been riding a wave of momentum ever since. 
Over the past five days, Tempus is up about 25% — a spike largely attributed to a strategic investment from SoftBank Group Corp (OTCPK: SFTBF) (OTCBF: SFTBY).
According to SoftBank's <a href="https://www.sec.gov/Archives/edgar/data/1065521/000106299324015034/xslForm13F_X02/primary_doc.xml">second-quarter 13F filing</a>, the investment giant added Tempus AI to its portfolio, acquiring approximately 5.41 million shares (worth approx. $189 million).
Google also backs Tempus AI.
This move, alongside SoftBank's increased stake in AI heavyweight Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), underscores the firm's bullish stance on the AI sector.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39693778/tempus-could-gain-share-in-ai-health-care-market-poised-to-grow-by-over-30">Tempus Could Gain Share In AI Health Care Market Poised To Grow By Over 30%</a>
<h2 class="wp-block-heading">Bullish Signals: Tempus On The Rise</h2>
From a technical perspective, Tempus AI's stock is showing strong bullish signals.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="627" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100004/Screenshot-2024-08-16-at-7.29.52-PM.png" alt="" class="wp-image-499058" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100004/Screenshot-2024-08-16-at-7.29.52-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100004/Screenshot-2024-08-16-at-7.29.52-PM-300x218.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081624&amp;t=be2bearmibe3na1">Chart crated using Benzinga Pro</a>
With its share price well above key moving averages—the eight-day SMA at $42.02 and the 20-day SMA at $41.51—the stock is positioned for continued upward momentum. 
The lack of data for the 50-day and 200-day SMAs, given the stock's recent market entry, doesn't detract from the overall positive sentiment.
Investors are clearly responding to Tempus AI's potential, especially with the backing of heavyweights like Google and SoftBank. 
As the company continues to innovate and expand its AI-driven healthcare solutions, its stock could remain a hot ticket on the Nasdaq, appealing to those looking to capitalize on the AI revolution. 
The big question now is whether Tempus AI can sustain this momentum and continue to break new ground in the fast-evolving tech landscape.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39697040/tempus-ai-has-massive-market-opportunity-for-this-healthcare-technology-bullish-ana">Tempus AI Has Massive Market Opportunity For This Healthcare Technology, Bullish Analyst Says</a></li>
</ul>

Long Ideas

Technicals

Tempus AI Soars To New Highs, Investments From Google And SoftBank Boost Bullish Sentiment

In a bid to challenge NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&#8217;s AI dominance, Asian startups are developing more energy-efficient and cost-effective chips for specific artificial intelligence applications.
What Happened: Asian startups are challenging Nvidia&#8217;s AI dominance by developing more energy-efficient and cost-effective chips for specific AI applications. These startups are targeting the gap in the market left by Nvidia&#8217;s high energy consumption and bulky design, <a href="https://asia.nikkei.com/Business/Business-Spotlight/Nvidia-vs.-the-startups-AI-chip-challengers-chase-efficiency">reported</a> Nikkei Asia on Friday.
These startups are focusing on two types of AI chips: &#8220;inference&#8221; chips, used to operate existing AI models, and &#8220;training&#8221; chips, high-powered data-processing components used to develop new AI models. 
While Nvidia&#8217;s GPUs continue to dominate the AI landscape, the startups believe that their GPUs&#8217; high energy consumption and bulky design leave a gap in the market that they can fill.
These startups believe that Nvidia&#8217;s GPUs, while powerful, are too energy-intensive and expensive for many applications. Preferred Networks (PFN) CEO Toru Nishikawa stated, &#8220;No one has come up with the perfect chip architecture for inference.&#8221; PFN is developing chips that aim to be more efficient and less costly than Nvidia&#8217;s offerings.
Nvidia&#8217;s GPUs are primarily used for training AI models, but their high cost and energy consumption make them impractical for devices like laptops and wearables. Analysts, including Kazuhiro Sugiyama from Omdia, believe that the demand for on-device AI will rise, encouraging new entrants to the market.
Startups such as Edgecortix, led by Sakyasingha Dasgupta, are focusing on solving issues like the &#8220;memory wall&#8221; problem to create more streamlined and energy-efficient AI chips. These efforts are part of a broader strategy to cater to the growing demand for AI in industrial applications and robotics, particularly in Asia, according to the report.
&#8220;Nvidia&#8217;s GPU is mainly suited for training, but we are seeing more newcomers developing chips which can target both training and inference,&#8221; Sugiyama said.
See Also: <a href="https://www.benzinga.com/news/24/08/40385244/peter-schiff-slams-july-cpi-figure-as-fraud-economist-explains-the-low-number-with-used-car-sales-nu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Slams July CPI Figure As &#8216;Fraud,&#8217; Economist Explains The Low Number With Used Car Sales Numbers: Data Doesn&#8217;t Support A Rate Cut</a>
Other companies entering the market include U.S.-based SambaNova Systems, backed by SoftBank Group&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) Vision Fund; Tenstorrent, founded by a former Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) engineer; and the British company Graphcore, recently acquired by SoftBank. 
Big tech companies like Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Amazon.com Inc.s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services are also joining in, along with Nvidia&#8217;s rival Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>).
Why It Matters: The competition between Nvidia and emerging Asian startups is heating up as the AI chip market continues to expand. Recently, Eric Schmidt, former CEO of Google, highlighted Nvidia as a major player in the AI sector, noting that large tech companies are <a href="https://www.benzinga.com/news/24/08/40409247/former-google-ceo-eric-schmidt-highlights-nvidia-as-major-ai-player-in-now-deleted-video-thats-not-a">planning significant investments</a> in Nvidia-based AI data centers, potentially costing up to $300 billion. 
Meanwhile, SoftBank has faced setbacks in <a href="https://www.benzinga.com/news/24/08/40400105/whats-going-on-with-nvidia-stock-on-thursday">its efforts to rival</a> Nvidia with its own AI chip production. Negotiations with Intel reportedly fell through due to Intel&#8217;s inability to meet production demands, leading SoftBank to turn to Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), a key Nvidia supplier.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Nvidia AI Dominance Challenged By Asian Startups Betting On Energy-Efficient And Cost-Effective Silicon — 'Inference' And 'Training' Chips Emerge As Key Focus

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock is trading higher Thursday amid reports indicating a <a target="_blank" href="https://www.benzinga.com/news/24/08/40387488/masayoshi-sons-plans-to-rival-nvidia-with-softbanks-own-ai-chip-production-hit-a-roadblock-as-intel" rel="noreferrer noopener">fallout in discussions</a> between SoftBank Group Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) and Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) over an artificial intelligence (AI) chip production.
Reportedly, Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) parent SoftBank is turning to Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), a <a target="_blank" href="https://www.benzinga.com/news/24/08/40367565/whats-going-on-with-taiwan-semiconductor-stock-on-wednesday" rel="noreferrer noopener">key Nvidia supplier</a>.
Intel failed to meet SoftBank&#8217;s demands for volume and speed, the Financial Times <a target="_blank" href="https://www.ft.com/content/6b7fd8a1-7f9c-427b-8467-f911f5f0d520" rel="noreferrer noopener">cited</a> familiar sources.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40347392/apple-intel-and-amd-lead-charge-in-ai-capable-pc-market-surge-report" rel="noreferrer noopener">Apple, Intel, And AMD Lead Charge In AI-Capable PC Market Surge: Report</a>
Intel&#8217;s financial struggles, including an April reported $7 billion operating loss in its manufacturing business and subsequent layoffs, likely compounded the difficulties in securing a deal.
While SoftBank&#8217;s pivot to Taiwan Semiconductor could still face hurdles due to the latter&#8217;s high demand from existing customers, the Japanese group remains committed to advancing its AI chip ambitions.
The overall cost of the project could run into tens of billions of dollars, with SoftBank reportedly seeking additional partners like Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to provide the necessary expertise and resources.
Nvidia&#8217;s stock has seen a volatile ride. Its selloff makes its <a target="_blank" href="https://www.benzinga.com/news/24/08/40366085/nvidias-rebound-rally-adds-billions-to-market-value-analysts-eye-ai-growth-report" rel="noreferrer noopener">valuation more attractive</a> as the AI frenzy is in no mood to slow down. Nvidia trades at a forward price-to-earnings multiple of 45.05x after losing over 5% in the last 30 days.
Nvidia stock is up over 176% in the last 12 months. Investors can gain exposure to the stock through Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
Price Action: NVDA shares were trading higher by 3.45% to $122.16 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by NP27 on Shutterstock

What's Going On With Nvidia Stock On Thursday?

In a recent development, SoftBank Group Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) has hit a snag in its plans to produce an artificial intelligence (AI) chip that could rival Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). The Japanese conglomerate&#8217;s negotiations with Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) have reportedly collapsed due to Intel&#8217;s failure to meet SoftBank&#8217;s production demands.
What Happened: SoftBank had been banking on Intel&#8217;s manufacturing prowess, along with the chip designs of its subsidiary, Arm, and its latest acquisition, Graphcore, to develop a competitive AI chip. However, the talks fell through ahead of Intel&#8217;s announcement of sweeping cost-cutting measures and significant layoffs in early August, Financial Times <a href="https://www.ft.com/content/6b7fd8a1-7f9c-427b-8467-f911f5f0d520">reported</a> on Thursday.
SoftBank&#8217;s CEO, Masayoshi Son, has been strategizing to invest heavily in the AI sector, with plans encompassing chip production, software development, and data centers to house its processors. Despite the failed Intel talks, SoftBank is now turning its attention to Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), the world&#8217;s largest contract chipmaker, blaming Intel for the breakdown of the negotiations.
SoftBank has yet to respond to <a href="https://pro.benzinga.com">Benzinga&#8217;s </a>queries while Intel declined to comment.
See Also: <a href="https://www.benzinga.com/news/24/08/40329545/trump-left-shocked-by-power-hungry-ai-tells-elon-musk-requires-twice-the-energy-that-the-country-alr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Left Shocked By Power-Hungry AI, Tells Elon Musk: &#8216;Requires Twice The Energy That The Country Already Produces&#8217;</a>
Why It Matters: SoftBank&#8217;s pivot from venture capital to semiconductors and AI investments has been a significant shift in its business strategy. The company has been <a href="https://www.benzinga.com/m-a/24/05/38764729/softbanks-billion-dollar-bet-switching-from-startups-to-semiconductors-ai">divesting billions of dollars </a>from its publicly listed holdings since the end of 2021.
SoftBank&#8217;s decision to sell its Nvidia shares in 2019, which could have been <a href="https://www.benzinga.com/markets/equities/24/07/39743441/after-losing-150b-nvidia-opportunity-masayoshi-sons-softbank-acquires-uk-chipmaker-graphcore-in-">worth over $150 billion</a>, has been seen as a missed opportunity. This has been followed by the company&#8217;s acquisition of U.K.-based chipmaker Graphcore, as part of its multibillion-dollar AI push.
Despite the setback with Intel, Son remains determined to position SoftBank at the forefront of the AI revolution, pitching his plans to major tech groups like Google and Meta to secure support and funding for his new venture.
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Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Masayoshi Son's Plans To Rival Nvidia With SoftBank's Own AI Chip Production Hit A Roadblock As Intel Talks Reportedly Fall Through (UPDATED)

Amid the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40153013/rich-dad-poor-dad-author-robert-kiyosaki-sees-market-crashes-as-opportunity-to-get-richer-">global market downturn</a> and a significant drop in its stock, Japanese investment behemoth, SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>), has reaffirmed its commitment to artificial intelligence.
What Happened: On Wednesday, SoftBank CFO, Yoshimitsu Goto, expressed the company&#8217;s steadfast belief in the transformative potential of AI, <a href="https://asia.nikkei.com/Business/SoftBank2/SoftBank-restates-faith-in-AI-amid-global-market-anxiety">reported</a> Nikkei Asia.
&#8220;We believe in AI, and believe it can change people&#8217;s lives,&#8221; Goto, said in a briefing following the announcement of Masayoshi Son-led <a href="https://www.benzinga.com/markets/asia/24/08/40213337/masayoshi-sons-softbank-announces-3-4b-share-buyback-as-vision-fund-tech-arm-yields-investment-gains">SoftBank&#8217;s earnings for the April-June</a> quarter.
Despite the market&#8217;s &#8220;high volatility,&#8221; he assured that SoftBank&#8217;s financial status remains &#8220;robust and stable.&#8221;
&#8220;Of course, the market is tough,&#8221; he stated, adding, &#8220;but our financial status is robust and stable. &#8230; There will be no change to our financial strategy for fiscal 2024.&#8221;
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SoftBank&#8217;s first-quarter losses were significantly lower than the same period last year, thanks to a weak yen and increased earnings <a href="https://www.benzinga.com/insights/options/24/08/40198755/arm-holdingss-options-frenzy-what-you-need-to-know">from chip designer</a> ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) a company in which SoftBank holds a significant stake. 
Regarding future investments, Goto acknowledged the need for caution due to market volatility. However, he also noted that the current lower stock prices present a good investment opportunity.
SoftBank also announced a share buyback of 500 billion yen ($3.4 billion) over the next year, motivated in part by the company&#8217;s record-low share price on Monday.
Why It Matters: Goto&#8217;s optimistic remarks follow SoftBank Group&#8217;s largest single-day stock price drop since its 1998 listing. This occurred on Monday as Japan&#8217;s benchmark Nikkei Stock Average experienced its <a href="https://www.benzinga.com/markets/equities/24/08/40152271/mohamed-el-erian-grant-cardone-and-matt-weller-warn-of-deepening-global-market-selloff-as-yen-ri">worst daily sell-off in history</a>.
U.S. stocks took a downturn on Wednesday, with an initial rally fizzling out, though the decline wasn&#8217;t as drastic as the recent turbulent swings seen in global markets.
The S&amp;P 500 fell by 0.8% after an early surge of 1.7% lost momentum. The Dow Jones Industrial Average dropped 0.6%, and the Nasdaq composite decreased by 1%.
The market&#8217;s decline was influenced by Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), a major player on Wall Street, which shifted from a 4.4% morning gain to a 5.1% loss, heavily weighing down the S&amp;P 500. 
At the time of writing, Nvidia stocks were down 1.31% at $97.65, during the after-hours session.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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