Japan Masayoshi Son, chairman and CEO of SoftBank group, believes that for geopolitical reasons, India can become a big country in the chip design sector. Giving this information, sources said that they have asked the founders of their portfolio companies in India to work on Artificial Intelligence in 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 may increase investment in India
The billionaire CEO met with the 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 for geopolitical reasons, India can be a major 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 design will be the heart of the AI economy
Son, chairman of SoftBank Group, said chip design will be the heart of the AI economy. During conversations with the founders, Son emphasized developing the business around AI. Son said global AI capex will be $9 billion to $10 billion and that founders should look at AI from a 10-year perspective. Son said that making an AI plan for two or three years will only lead to failure. SoftBank has invested in many large Indian companies in recent years such as Flipkart, Ola, Paytm, Delhivery, FirstCry and Swiggy.
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