Market Chatter: SoftBank Introduces AI Company with NEC, Honda, Sony as Investors

MT Newswires Live04-13 09:01

SoftBank Group (TYO:9984) has launched a new company focused on developing artificial intelligence in Japan, with investments from NEC (TYO:6701), Honda Motor (TYO:7267), and six other firms, Nikkei Asia reported on Monday.

The Japanese government is evaluating potential support for the initiative. The venture aims to create a foundational model for "physical AI" to enable autonomous control of robots and machinery through a collaborative public-private effort, the news daily said.

Additional investors include Sony Group (TYO:6758), Mitsubishi UFJ Financial's (TYO:8306) MUFG Bank, Sumitomo Mitsui Banking Corp. (TYO:8316), Mizuho Bank (TYO:8411), Nippon Steel (TYO:5401), Kobe Steel (TYO:5406), and AI developer Preferred Networks will also assist in building the model.

Softbank Group did not reply to MTNewswire queries at press time.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The venture aims to create a foundational model for \"physical AI\" to enable autonomous control of robots and machinery through a collaborative public-private effort, the news daily said.</p><p>Additional investors include Sony Group (TYO:6758), <a href=\"https://laohu8.com/S/MBFJF\">Mitsubishi UFJ</a> Financial's (TYO:8306) MUFG Bank, <a href=\"https://laohu8.com/S/SMFNF\">Sumitomo Mitsui</a> Banking Corp. (TYO:8316), Mizuho Bank (TYO:8411), <a href=\"https://laohu8.com/S/NISTF\">Nippon Steel</a> (TYO:5401), <a href=\"https://laohu8.com/S/KBSTF\">Kobe Steel</a> (TYO:5406), and AI developer Preferred Networks will also assist in building the model.</p><p>Softbank Group did not reply to MTNewswire queries at press time.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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