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YOU WONT BELIEVE: 2 - What They Never Told You

SoftBank, Goldman, Porsche Procure Stake In This EV Maker's Latest Funding Round, Valuing It Over €2B

SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF) and Goldman Sachs Group, Inc (NYSE: GS) invested in Croatian electric supercar maker Rimac in

Walmart Intensifies Rivalry With Google, Amazon By Targeting India's Budding Payments Market

Walmart Intensifies Rivalry With Google, Amazon By Targeting India's Budding Payments Market

Walmart Inc's (NYSE:WMT) Indian payments unit PhonePe will acquire two wealth management firms for a total enterprise value of $75 million, Bloomberg reports. PhonePe will buy WealthDesk for about $50 million and OpenQ for nearly $25 million. The acquisitions will help broaden PhonePe's offerings in India's budding payments market, where Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL)…

Saudi Arabia's Public Investment Fund Scoops 5% Stake In Nintendo

Saudi Arabia's Public Investment Fund Scoops 5% Stake In Nintendo

Saudi Arabia's Public Investment Fund (PIF) scooped a 5.01% stake in Nintendo Co, Ltd (OTC:NTDOY), Reuters reports. PIF has also launched its own video game and e-sports company, Savvy Gaming. Also Read: Nintendo Declares 10-1 Stock Split After Posting 4% Sales Decline In FY22, Weaker Guidance PIF invested in video game companies Nexon Co Ltd (OTC: NEXOY), Capcom Co…

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CLSA Expects SoftBank To Focus More On Buybacks Than High Growth Stocks Like Alibaba

Softbank Group Corp (OTC:SFTBY) (OTC:SFTBF) may, for the first time, spend more on share buybacks than investments through its landmark Vision Fund as the firm goes into "defense" mode, according to CLSA's Oliver Matthew. "I think that the comments yesterday from Masayoshi Son made it very clear we're in defense round…

SoftBank's Stock Picking Unit Suffers Colossal Losses Due To Tech Meltdown

Softbank Group Corp (OTC:SFTBY) (OTC:SFTBF) founder Masayoshi Son's controversial side venture SB Northstar, which focused on stock picking, just backfired, Bloomberg reports. SoftBank reported a record annual loss at its Vision Fund unit as a global selloff in tech shares battered the value of public holdings like Coupang, Inc (NYSE:CPNG) and DiDi Global Inc (NYSE:DIDI). The Vision Fund unit hinged…

DiDi Faces Double Whammy Of US, China Investigations

The U.S. SEC is probing DiDi Global Inc's (NYSE:DIDI) botched U.S. IPO, the Financial Times reports. DiDi's annual report disclosed that "the SEC contacted us and made inquiries in relation to the offering." DiDi President Jean Liu also made her posts on the Chinese social media platform Weibo Corporation (NASDAQ:WB) invisible to her 10 million…

Arm Removes Significant Obstacle Hindering IPO Aspirations: FT

Softbank Group Corp (OTC:SFTBY) (OTC:SFTBF) owned Arm is on the verge of regaining control of its defector China joint venture, the Financial Times reports. The development will remove a significant obstacle to SoftBank’s IPO ambitions for the U.K. chip designer. Arm holds a 47.3% stake in Arm China, while Chinese investment firm…

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SoftBank Robotics Invests In Hong Kong Startup Avalon SteriTech: Bloomberg

SoftBank Robotics Invests In Hong Kong Startup Avalon SteriTech: Bloomberg

SoftBank Group Corp's (OTC:SFTBY) (OTC:SFTBF) robotics arm has agreed to buy a minority stake in cleaning technology startup Avalon SteriTech Ltd, Bloomberg reports. SoftBank Robotics looks to acquire a 5% stake in the Hong Kong-based company. The financial terms of the deal remain undisclosed. The investment marks SoftBank's Hong Kong debut. The…

In Shift to New Era, Wave Computing Adopts RISC-V Chip Architecture

In Shift to New Era, Wave Computing Adopts RISC-V Chip Architecture

Silicon Valley's Wave Computing said on Tuesday it is launching designs for two new microprocessors this year using RISC-V architecture as it sunsets its once-popular MIPS architecture. The move adds to growing momentum for RISC-V, an open-standard instruction set architecture (ISA) and emerging rival to proprietary architecture from Britain's Arm,…

Asharq Al-Awsat

HSBC Slashes Price Targets On Alibaba, Baidu Due to China's Covid Surge, Regulatory Crackdown

HSBC Slashes Price Targets On Alibaba, Baidu Due to China's Covid Surge, Regulatory Crackdown

HSBC analyst Charlene Liu cut the price target on Baidu Inc (NASDAQ:BIDU) to $180 from $195 (31.3% upside) and kept a Buy rating on the shares. The analyst now assumes a worse impact from COVID-19 on the company's core ad and cloud businesses and margins, seeing a recovery only in Q4. Liu reduced the price…

This Major Alibaba Investor Has Tripled Stock Buyback To $1.1B

This Major Alibaba Investor Has Tripled Stock Buyback To $1.1B

SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) bought ¥141.4 billion ($1.1 billion) worth of shares in March, versus ¥46.2 billion of shares in February, more than tripling the size of its share buybacks. The buyback, coupled with a 7.6% jump in Alibaba Group Holding Ltd's (NYSE:BABA) shares, helped SoftBank cap a monthly stock-price gain of 8.5%, a…

Jack Ma, Warren Buffett Backed Paytm Looks To Breakeven Soon: Bloomberg

Jack Ma, Warren Buffett Backed Paytm Looks To Breakeven Soon: Bloomberg

Paytm, backed by SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) and Alibaba Group Holding Ltd's (NYSE:BABA) fintech affiliate Ant Group, looks to break even on an operating basis over the next year-and-a-half, Bloomberg reports. The Indian digital payments pioneer doubled its gross merchandise value to $34.3 billion in the March quarter. Paytm looks to become profitable in…

SoftBank Loses Vision Fund Leader; Continues To Liquidate Portfolio

SoftBank Loses Vision Fund Leader; Continues To Liquidate Portfolio

Ron Fisher looked to depart as the head of SoftBank Group Corp's (OTC:SFTBY) (OTC:SFTBF) Vision Fund and Chair and director of SoftBank Investment Advisors U.S. on April 15, Bloomberg reports. Fisher would remain a senior advisor to SoftBank's founder and CEO, Masayoshi Son. Fisher left SoftBank's board in 2021. Fisher began working with…

South Korean Chipmaker Weighs Arm Takeover Options

South Korean Chipmaker Weighs Arm Takeover Options

South Korean chipmaker SK Hynix Inc (OTC:HXSCL) CEO admitted to weighing a consortium to acquire British semiconductor company Arm Ltd, Reuters reports citing Yonhap news agency. “I don’t believe Arm is a company that could be bought by one company,” SK Hynix Vice-Chair and co-CEO Park Jung-ho admitted, FX Empire reports. SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF) looked…

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Here's How Arm Looks To Speed Up Its US IPO

SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF)-owned Arm Ltd, looks to transfer shares in its China joint venture to a SoftBank special purpose vehicle to speed up its U.S. IPO, the Financial Times reports. SoftBank will hold 28% of Arm China after the transfer, Bloomberg reports. Arm will hold less than 20% of Arm China and treat it…

China Tech's Dwindling Fortunes Fuel More Alibaba Stake Selloff Speculations By SoftBank

The dwindling fortunes of the Chinese tech shares have prompted concerns over Alibaba Group Holding Ltd (NYSE:BABA) stake selloff by SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF), the Wall Street Journal reports. SoftBank's single most significant investment in the e-commerce giant was hit hard by the domestic crackdown. The Nasdaq Golden Dragon China Index of U.S.-listed Chinese stocks…

This SoftBank-Owned Japanese Social Media Giant Is Launching An NFT Marketplace

LINE, co-owned by the Masayoshi Son-led SoftBank Group Corp (OTC: SFTBY), is all set to launch a non fungible token (NFT) marketplace.

Nvidia Weighs Intel As Chip Making Foundry

NVIDIA Corp (NASDAQ:NVDA) looked to explore Intel Corp (NASDAQ:INTC) as a foundry for making its chips, Reuters reports citing CEO Jensen Huang. “They’re interested in us using their foundries. We’re very interested in exploring it,” Huang said. However, foundry discussions take a long time as it’s about integrating supply chains and not like “buying milk.”…

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Pear Therapeutics, SoftBank Team On Sleep/Wake Disorder Therapeutic For Japanese Market

Pear Therapeutics Inc (NASDAQ: PEAR) has agreed with SoftBank Group Corp (OTC: SFTBY) to develop a Japanese-language digital therapeutic for sleep/wake disorders for the Japanese market.

Microsoft Joins Other Investors In Raising Funds For This Blockchain Start-up

Blockchain start-up ConsenSys raised $450 million in a new round of funding that more than doubled its valuation to $7 billion, CNBC reports. Joseph Lubin founded ConsenSys. Lubin was also the co-founder of Ethereum, the blockchain platform behind ether, the second-biggest cryptocurrency. ConsenSys' most popular products include the MetaMask cryptocurrency wallet and Infura,…

SoftBank Founder Boosts Collateral To 33% Of Stock As Stock Prices Sink

SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) founder Masayoshi Son has raised the collateral stock to financial institutions as its shares plunged over 2021, Bloomberg reports. Son boosted the stock pledged as collateral to ~33% of his stake or 153.3 million shares in SoftBank as its shares sank 60% from their peak last year.…

Asharq Al-Awsat

Japan Fashion Magnate Maezawa Buys ‘Affectionate’ Robot Venture

Japanese fashion magnate Yusaku Maezawa is buying robotics startup Groove X, which makes an "affectionate" companion robot, saying on Tuesday he was drawn by its ability to "make people feel happy". A fund owned by Maezawa has taken a majority stake in the startup, founded by an alumni of SoftBank…

Meta, SoftBank Backed Indian Startup Targets IPO; Exploring Indian and US Exchanges

Facebook parent Meta Platforms Inc (NASDAQ:FB) and SoftBank Group Corp's (OTC:SFTBY) (OTC:SFTBF) Vision Fund 2 backed Indian startup, Meesho, looks to go public in early 2023, Reuters reports. The Bengaluru-based social commerce platform is rooting for a listing by the end of 2022. Meesho is evaluating both Indian and U.S. exchanges. Resellers on the company's…

WeWork's Empty Chair Sparks Speculation Of Founder Adam Neumann's Return: Bloomberg

WeWork Inc (NYSE:WE) is yet to fill the Chair position since Marcelo Claure's exit in January, Bloomberg reports. Claure, SoftBank Group Corp's (OTC:SFTBY) (OTC:SFTBF) former COO, had held that position since the Japanese conglomerate rescued WeWork from near-insolvency in 2019. Claure resigned in January from SoftBank, the biggest investor in WeWork. Adam Neumann can…

Here's Why Jefferies Sees More Alibaba Stake Sale By SoftBank

SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF) sold 20 million Alibaba Group Holding Ltd (NYSE: BABA) shares in the last quarter and "

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