SoftBank’s CEO, Masayoshi Son, revealed his ardent utilization of ChatGPT, an artificial intelligence-driven chatbot developed by OpenAI and backed by Microsoft (NASDAQ: MSFT), during a recent shareholder meeting of the telecommunications subsidiary.
Son expressed his enthusiasm as a dedicated user of ChatGPT, engaging with the chatbot on a daily basis. This disclosure comes as Son, amidst the prevailing excitement surrounding AI, has shifted his focus to the forthcoming listing of Arm, a chip designer. SoftBank’s technology investment conglomerate has faced significant losses due to the declining value of its portfolio.
Additionally, Son emphasized that he maintains regular communication with Sam Altman, the CEO of OpenAI. Altman’s high-profile visits to Tokyo this year are part of a strategic endeavor to leverage the growing interest in generative AI and exert influence over the regulation of this burgeoning technology worldwide.
OpenAI, headquartered in San Francisco, enjoys support from Microsoft, which is widely recognized as a trailblazer in AI implementation and has spearheaded numerous advancements in this field.
SoftBank’s annual general meeting is scheduled for tomorrow, and market observers are eager to gain insights into Son’s investment outlook during a time when AI-driven capital expenditure is on the rise globally.
Son has long advocated for AI as the cornerstone of his investment strategy. However, he has encountered prominent setbacks, such as the turbulence experienced by office-sharing firm WeWork and the depreciation of valuations among the high-growth startups he favors.
A successful listing of Arm, based in Cambridge, England, would undoubtedly deliver a much-needed triumph for SoftBank, an indebted Japanese conglomerate. Its long-term credit rating was recently downgraded by S&P Global (NYSE: SPGI) Ratings due to its exposure to unlisted companies.
While pundits debate Son’s ability to select winning investments in an economy increasingly reliant on AI, SoftBank’s shares have experienced a surge in tandem with the frenzy surrounding chip and AI-related stocks, yielding a commendable quarter-to-date gain of approximately 30%.
