Japan Masayoshi Son, Chairman and CEO of SoftBank Group, believes that due to geopolitical reasons, India can emerge as a big country in the sector of chip design. Giving this information, sources said that they have asked the founders of their portfolio companies in India to work on Artificial Intelligence in the planning for the next 10 years. During his two-day visit to India, Son met Reliance Industries Chairman Mukesh Ambani in Mumbai on the first day and Prime Minister Narendra Modi in the capital Delhi on the second day.
Softbank can increase investment in India
The billionaire CEO met founders of SoftBank's portfolio companies on the second day of his visit. These included Paytm CEO Vijay Shekhar Sharma, Meesho CEO Vidit Atre, Oyo CEO Ritesh Aggarwal, Ola Consumer and Ola Electric CEO Bhavish Aggarwal, Flipkart CEO Kalyan Krishnamurthy and Unacademy CEO Gaurav Munjal, among others. The source said, “During the meeting with the founders, Son said that India's engineering talent is the largest in the world. He said that due to geopolitical reasons, India can be a big player in chip design. SoftBank has invested $15 billion in the last 10 years and SoftBank's investment in India could be more than this.
Chip designing will be the heartbeat of AI economy
Son, chairman of SoftBank Group, said chip designing will be the heartbeat of the AI economy. During discussions with the founders, Son emphasized on developing the business around AI. Son said that the capital expenditure of AI at the global level will be 9 to 10 thousand billion dollars and founders need to look at AI from a 10 year perspective. Son said that making an AI plan for two-three years will only lead to failure. SoftBank has invested in many big Indian companies in the last few years like Flipkart, Ola, Paytm, Delhivery, FirstCry and Swiggy.
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