Masayoshi Son, the billionaire CEO of SoftBank, is aiming for a new technology adventure called Artificial Superintelligence (ASI).
He has long been recognized as a visionary in the realm of technology investments. His career trajectory began with the founding of a video game company, showcasing early entrepreneurial flair. Over the years, Son has made bold investments in startups poised to revolutionize industries, cementing his reputation as a risk-taker with a keen eye for innovation.
However, Son’s journey has not been without its ups and downs. His successes include early investments in Alibaba, which turned into one of the most lucrative deals in venture capital history. Conversely, his involvement with WeWork highlighted the volatility of his approach, as SoftBank faced substantial losses following the coworking company’s troubled IPO attempt.
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Son’s legacy is defined by his willingness to take high-stakes gambles on companies with transformative potential, underscoring both the rewards and risks inherent in his visionary investment strategy.
SoftBank’s Vision Fund has been at the heart of Son’s investment strategy, targeting high-growth tech startups. The fund’s performance has been notably volatile, reflecting Son’s penchant for bold moves. In the fiscal year 2021, ending March 31, 2022, the Vision Fund reported a record $27 billion loss, driven by the impact of rising interest rates on tech stocks. This downturn prompted Son to adopt a “defense” strategy, aimed at safeguarding SoftBank’s existing investments.
However, the defensive approach did not stave off further losses. By March 31, 2023, the Vision Fund posted an even larger $32 billion loss, with significant setbacks in investments like the Chinese AI company SenseTime and the Indonesian e-commerce giant GoTo.
In response, Son reverted to an “offense” strategy, seeking new growth opportunities.
This shift bore fruit in the following fiscal year. As of March 31, 2024, the Vision Fund reported a $4.6 billion profit, bolstered by successful investments in companies such as U.K. chip designer Arm, TikTok owner ByteDance, and food-delivery service DoorDash.
A New Obsession: Artificial Superintelligence
Despite recent successes, Son’s ambitions have taken a futuristic turn toward artificial superintelligence.
The CEO envisions a future where ASI surpasses not only current AI capabilities but also the hypothetical potential of artificial general intelligence (AGI). He predicts ASIs will be 10,000 times more intelligent than the most brilliant human minds on Earth, suggesting a profound shift in technological advancement and its implications for society and industry.
Son believes that achieving ASI is his true calling, asserting that his entire career has been a prelude to this ultimate endeavor.
“SoftBank was founded for what purpose? For what purpose was Masa Son born? It may sound strange, but I think I was born to realize ASI. I am super serious about it,” Son told shareholders at an annual meeting.
He disclosed that all his previous investments, including those in Uber and Alibaba, were merely a “warm-up” for his AI ventures. “Realizing ASI is my only focus,” he stated.
This focus has been reflected in SoftBank’s recent investment activities. In May, SoftBank pledged to make five large-scale AI investments of at least $1 billion each. Notable AI investments include a $200 million stake in Tempus AI, a medical-data analysis startup, and a significant backing of the AI internet search startup Perplexity AI, valued at $3 billion.
The OpenAI Missed Opportunity
Adding a layer of complexity to Son’s current AI ambitions is his regret over selling SoftBank’s shares in Nvidia. If retained, these shares would have been worth N150 billion today. This missed opportunity weighs heavily on Son, especially as he now aggressively pursues faster and more advanced AI developments. His regret underscores his determination to not miss out on the next big wave in artificial intelligence.
At the shareholder meeting, Son highlighted additional opportunities in autonomous driving, AI robotics, and data centers. These sectors, he believes, hold significant potential for growth and innovation. In a characteristically introspective moment, Son recounted his emotional struggles during SoftBank’s difficult period in 2022.
“Two years ago, I am getting old, rest of my life is limited, but I haven’t done anything yet and I cried so hard,” he shared.
However, Son now feels more certain of his purpose than ever before, as noted in his statement, “This is what I was born to do, to realize ASI.”
His conviction and relentless pursuit of ASI underscore his commitment to positioning SoftBank at the forefront of technological advancement, potentially revolutionizing industries and creating new paradigms in the process.
Masayoshi Son’s journey reflects a blend of visionary ambition and the willingness to learn from failures. As he shifts SoftBank’s focus towards the realization of ASI, he is facing an ambition that could change the world of tech, and make or mar SoftBank’s fortune.