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SoftBank Group Corp. announced a buyback worth up to ¥500 billion ($3.4 billion), following a month of sharp selloffs and pressure from activist investor Elliott Investment Management to bolster its stock price. The Tokyo-based technology investor plans to buy up to 6.8% of its free-floating outstanding shares in the year to August 7, 2025, according to a release Wednesday. The announcement comes after Elliott built a sizable stake in SoftBank this year and had pushed for a $15 billion buyback.
The buyback by SoftBank Group Corp. comes as a response to the tech selloff that had trimmed much of the company's gains this year. Billionaire founder of SoftBank is mobilizing for the next AI bet, indicating a strategic move amidst market challenges. The move showcases the company's commitment to enhancing shareholder value and addressing investor concerns.
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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