SoftBank’s Son: Nvidia deal for Arm will drive computing power growth

TOKYO/DUBAI: SoftBank Group Corp CEO Masayoshi Son said on Oct 22 that the sale of chip designer Arm to Nvidia Corp will drive growth in computing power, in his first public comments since the US$40bil (RM165.85bil) deal was announced in September.

Son made the comments at a virtual summit about artificial intelligence hosted by Saudi Arabia, an anchor investor in the US$100bil (RM415bil) Vision Fund, at which he reiterated his belief that AI would transform society.

The Nvidia deal, part of a series of asset sales by Son, whose group has been shaken by soured investments and the Covid-19 pandemic, has raised concerns it will threaten Arm’s role as a neutral supplier in the industry.

Son is set to speak next week with Nvidia CEO Jensen Huang at SoftBank World, the group’s annual event for customers and suppliers that is being retooled as it focuses on investing.

SoftBank’s growing cash pile is driving speculation about future investment plans, with the Vision Fund targeting external funding for a blank-check company, a source said, in a sign the group is regaining its mojo.

“I am a risk taker,” Son said on Oct 22. – Reuters