Technology 

SoftBank invests in Mubadala’s new $400 million European tech fund: source

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato DUBAI (Reuters) – Japan’s SoftBank Group has provided nearly half of the cash for Abu Dhabi’s state investor Mubadala Investment Co’s new $400 million fund investing in European start-ups, a source familiar with the matter said. Mubadala, which has committed to invest $15 billion in SoftBank’s Vision Fund, last week announced that Mubadala Ventures was planning to launch a $400 million technology-focused European fund this year. Softbank…

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Technology 

SoftBank invests in Mubadala’s new $400 million European tech fund: FT

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato (Reuters) – Japan’s SoftBank Group has provided nearly half the cash for the new $400 million fund by Abu Dhabi’s state-owned Mubadala Investment Co that aims to back European start-ups, the Financial Times reported on Monday. Mubadala, which is a big investor in SoftBank’s Vision Fund, will use the fund to invest between $5 million and $30 million in European start-ups, FT reported, citing people with direct…

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Technology 

Driverless delivery startup Nuro gets $940 million SoftBank investment

FILE PHOTO – The unmanned delivery vehicle, Nuro, is seen during the Kroger annual shareholders meeting in Cincinnati, Ohio, U.S., June 28, 2018. Picture taken June 28, 2018. Courtesy of Kroger/Handout via REUTERS (Reuters) – Autonomous technology startup Nuro said on Monday it raised $940 million from SoftBank Group Corp, which valued the Silicon Valley-based company at $2.7 billion. Nuro was co-founded in 2016 by two former engineers of Google’s self-driving car project, Dave Ferguson and Jiajun Zhu. The funding by SoftBank came through its $100-billion Vision Fund, which usually…

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Technology 

Driverless delivery startup Nuro gets $940 million SoftBank investment

FILE PHOTO – The unmanned delivery vehicle, Nuro, is seen during the Kroger annual shareholders meeting in Cincinnati, Ohio, U.S., June 28, 2018. Picture taken June 28, 2018. Courtesy of Kroger/Handout via REUTERS (Reuters) – Autonomous technology startup Nuro said on Monday it raised $940 million from SoftBank Group Corp, which valued the Silicon Valley-based company at $2.7 billion. Nuro was co-founded in 2016 by two former engineers of Google’s self-driving car project, Dave Ferguson and Jiajun Zhu. The funding by SoftBank came through its $100-billion Vision Fund, which usually…

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Technology 

Japan’s Softbank shares surge on buyback plan

Image copyright Getty Images Shares in Japanese tech conglomerate Softbank surged nearly 17% after its chief executive Masayoshi Son unveiled a $5.5bn (£4.3bn) share buyback. Mr Son said the buyback will prop up the company’s share price, which he sees as chronically undervalued. Softbank has stakes in dozens of technology companies through its Vision Fund. Mr Son said when these investments are counted properly, Softbank is worth far more than its current market value. He announced the share buyback during an earnings briefing on Wednesday. Mr Son described the company’s…

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Technology 

SoftBank to invest additional $2 billion in WeWork: sources

(Reuters) – SoftBank Group Corp (9984.T) will inject another $2 billion in WeWork Cos Inc this year, bringing the Japanese conglomerate’s total investment in the office space provider to more than $10 billion, according to two people familiar with the matter. FILE PHOTO – SoftBank Corp. placard is prepared during a ceremony to mark the company’s debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei Kato The new investment will value WeWork at $47 billion, one of the sources said. SoftBank will separately convert previously purchased…

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Technology 

SoftBank to slash planned WeWork investment: FT

FILE PHOTO – SoftBank Corp. placard is prepared during a ceremony to mark the company’s debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei Kato (Reuters) – SoftBank Corp is in talks to invest $2 billion in U.S. shared office space provider WeWork Cos Inc this year, a much lower amount than the $16 billion discussed towards the end of last year, the Financial Times reported on Monday. The deal will now not include the participation of SoftBank’s Vision Fund, which had been a major backer…

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Technology 

SoftBank Corp shares recover from early fall, after record IPO

SoftBank Corp. President and CEO Ken Miyauchi poses for a photograph as he holds an IPO certificate with Tokyo Stock Exchange director and executive officer Yasuyuki Konuma during a ceremony to mark the company’s debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei Kato TOKYO (Reuters) – SoftBank Corp shares fell as much as 8 percent early on Thursday before erasing the losses in volatile trading, following the telco’s 15 percent tumble on debut the previous day. The unit of tech investment giant SoftBank Group Corp…

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Saudi starts work with SoftBank on 200 gigawatt solar plan: minister

FILE PHOTO: Saudi Arabia’s Oil Minister Khalid al-Falih talks to journalists at the beginning of an OPEC meeting in Vienna, Austria December 6, 2018. REUTERS/Leonhard Foeger/File Photo RIYADH (Reuters) – Saudi Arabia has already started implementing an agreement with SoftBank Group’s (9984.T) Vision Fund to provide 200 gigawatts of solar power in the kingdom, energy minister Khalid al-Falih said at a post-budget event. The kingdom’s Public Investment Fund agreed to invest $45 billion in the giant tech fund led by SoftBank and the pair are working with other parties on…

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