SoftBank Jumps 13% following Landmark $5.4 Billion ABB Robotics Deal to Accelerate AI Innovation Strategy – kaohoon international
As of 9:29 AM (Bangkok time) on Thursday, the share price of SoftBank Group Corp. rose by 12.47% or JPY 2,570 to JPY 23,180 per share.
Shares of the Japanese conglomerate surged by up to 13% on Thursday following news that it had reached an agreement to acquire the robotics arm of Swiss engineering firm ABB for $5.4 billion, a move that further strengthens SoftBank’s position in the AI sector.
SoftBank Group announced that it has reached an agreement to acquire the robotics division of Swiss engineering company ABB for $5.4 billion, marking another major step in its strategy to expand its artificial intelligence portfolio. The transaction is still subject to global regulatory approvals.
Following the deal, ABB will abandon its plan to spin off the robotics unit as a separately listed company. SoftBank’s founder, Masayoshi Son, described the move as part of the company’s vision to merge advanced AI capabilities with robotics, aiming to push forward what he calls “Physical AI.” His broader ambition involves the concept of Artificial Super Intelligence (ASI), an idea he has championed as a future form of AI far surpassing human intelligence.
Son has been aggressively positioning SoftBank at the center of the global AI boom, making significant investments and acquisitions across the tech landscape. The company owns chip designer Arm and holds a major stake in OpenAI. It also has investments in robotics companies such as AutoStore Holdings and Agile Robots.
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
Shares of the Japanese conglomerate surged by up to 13% on Thursday following news that it had reached an agreement to acquire the robotics arm of Swiss engineering firm ABB for $5.4 billion, a move that further strengthens SoftBank’s position in the AI sector.
SoftBank Group announced that it has reached an agreement to acquire the robotics division of Swiss engineering company ABB for $5.4 billion, marking another major step in its strategy to expand its artificial intelligence portfolio. The transaction is still subject to global regulatory approvals.
Following the deal, ABB will abandon its plan to spin off the robotics unit as a separately listed company. SoftBank’s founder, Masayoshi Son, described the move as part of the company’s vision to merge advanced AI capabilities with robotics, aiming to push forward what he calls “Physical AI.” His broader ambition involves the concept of Artificial Super Intelligence (ASI), an idea he has championed as a future form of AI far surpassing human intelligence.
Son has been aggressively positioning SoftBank at the center of the global AI boom, making significant investments and acquisitions across the tech landscape. The company owns chip designer Arm and holds a major stake in OpenAI. It also has investments in robotics companies such as AutoStore Holdings and Agile Robots.
© KAOHOON. All Rights Reserved.
source
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
