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Tag: SoftBank

  • SoftBank Innovates AI Infrastructure with Launch of Infrinia Cloud OS: A Game-Changer for GPU Cloud Services

    SoftBank Innovates AI Infrastructure with Launch of Infrinia Cloud OS: A Game-Changer for GPU Cloud Services

    SoftBank Corp., under the leadership of President and CEO Junichi Miyakawa, has unveiled a significant development from its Infrinia Team. This team, specializing in the creation of next-generation AI infrastructure architectures and systems, has designed the Infrinia AI Cloud OS. This is a robust software stack custom-built for AI data centers.

    Capabilities and Advantages of Infrinia AI Cloud OS

    The rollout of Infrinia AI Cloud OS provides AI data center operators with the ability to present kubernetes-as-a-service (KaaS) in multi-tenant environments. It also facilitates inference-as-a-service (Inf-aaS), which offers large language model inference via APIs. These features can be incorporated into operators’ individual GPU cloud services. Compared to custom-made or internally developed options, the software stack is anticipated to decrease total cost of ownership (TCO) and simplify operational intricacies. This facilitates a quicker deployment of GPU cloud services by providers while supporting the entire AI lifecycle, ranging from model training to inference, both flexibly and efficiently.

    SoftBank’s initial strategy is to incorporate Infrinia AI Cloud OS into its own GPU cloud offerings. In the future, the Infrinia Team plans to extend the deployment to overseas data centers and cloud platforms with the aim of achieving global acceptance.

    Meeting the Growing Demand

    The request for GPU-accelerated AI computing is escalating swiftly across various sectors including generative AI, autonomous robotics, simulation, drug discovery, and materials science. As a result, user prerequisites for AI computing have become diverse and complex. These encompass access to fully managed infrastructure with abstracted GPU bare-metal servers, cost-effective inference services which eradicate the need for direct GPU management, and sophisticated operational models where AI training is centralized and inference is deployed at the edge.

    Addressing these diverse needs places significant demands on GPU cloud service providers. Building and operating such environments call for in-depth technical know-how and involve complicated operational procedures. To surmount these hurdles, the Infrinia Team invented Infrinia AI Cloud OS. This solution maximizes GPU performance while easing the deployment and management of advanced GPU cloud services.

    Technical Aspects of the Software Stack

    The software stack’s KaaS capabilities automate the entire infrastructure stratum—from BIOS and RAID configurations to operating systems, GPU drivers, networking, Kubernetes controllers, and storage—on advanced GPU platforms such as NVIDIA GB200 NVL72. Additionally, it supports software-defined, on-demand reconfiguration of physical connectivity and memory, which allows clusters to be created, modified, or removed based on specific AI workload requirements. Automatic node allocation based on GPU proximity and NVIDIA NVLink domains further diminishes latency and enhances GPU-to-GPU bandwidth for large-scale, distributed workloads.

    The Inf-aaS component is crafted to empower users to deploy inference workloads with ease, providing scalable and efficient access to AI model inference via managed services.

    CEO Junichi Miyakawa emphasized SoftBank’s commitment to pioneering the AI era. The company aims to provide essential capabilities required for the large-scale deployment of AI in society through a new GPU cloud service and software business. The Infrinia AI Cloud OS software forms the core of this initiative, designed to seamlessly connect AI data centers, enterprises, service providers, and developers.

    Questions & Answers

    What is Infrinia AI Cloud OS?
    Infrinia AI Cloud OS is a robust software stack custom-built for AI data centers developed by SoftBank’s Infrinia Team.

    What features does Infrinia AI Cloud OS offer?
    It provides kubernetes-as-a-service (KaaS) and inference-as-a-service (Inf-aaS) capabilities. It can also be integrated into operators’ individual GPU cloud services.

    What are the benefits of Infrinia AI Cloud OS?
    Infrinia AI Cloud OS decreases total cost of ownership (TCO) and simplifies operational complexities. This facilitates quicker deployment of GPU cloud services by providers while supporting the entire AI lifecycle flexibly and efficiently.

  • SoftBank and OpenAI Unleash ‘Crystal Intelligence’ to Energize Japan’s Corporate AI Landscape

    SoftBank and OpenAI Unleash ‘Crystal Intelligence’ to Energize Japan’s Corporate AI Landscape

    The SoftBank Group, which includes SoftBank Corp. and SoftBank Group Corp., has partnered with OpenAI Group PBC to launch a joint venture known as SB OAI Japan GK (SB OAI Japan). The aim of this venture is to introduce “Crystal intelligence,” a groundbreaking artificial intelligence (AI) solution designed to revolutionize management and operational processes within Japanese enterprises.

    Bringing AI to Corporate Management

    The new solution combines OpenAI’s most recent products with customized implementation and system integration services. Exclusively available in Japan, “Crystal intelligence” is set for release in 2026, and is expected to significantly enhance organizational productivity and management efficiency by integrating state-of-the-art AI tools.

    The new solution combines OpenAI’s enterprise offerings with local support and implementation provided by SB OAI Japan. SoftBank Corp. will be the first company to adopt and implement this technology before it becomes available to other customers in Japan. This initial deployment will serve to validate its effectiveness in product development and business transformation via advanced AI technologies.

    AI Integration and Implementation

    The insights and expertise acquired from these efforts will be disseminated to other enterprises through SB OAI Japan. The SoftBank Group is dedicated to transitioning into an AI-native organization, encouraging all employees to integrate AI into their daily tasks.

    By utilizing OpenAI’s technology, the Group has already developed approximately 2.5 million custom GPTs (ChatGPTs tailored for specific tasks or use cases) for internal use. It is now laying the groundwork for the introduction of Crystal intelligence.

    Vision for the Future

    Sam Altman, CEO of OpenAI, says that the joint venture with SoftBank is a significant move that will speed up their vision of delivering advanced AI to some of the world’s most influential companies, starting with Japan. Masayoshi Son, Chairman & CEO of SoftBank Group Corp., believes that this venture marks the beginning of a new era of innovation that will revolutionize how people work and how businesses are managed.

    Questions & Answers

    What is the purpose of the new venture between SoftBank Group and OpenAI Group PBC?
    The joint venture, SB OAI Japan GK, aims to introduce a new AI-driven solution called “Crystal intelligence” that is designed to revolutionize corporate management and operations in Japanese enterprises.

    What is “Crystal intelligence”?
    “Crystal intelligence” is a solution that merges OpenAI’s latest products with customized implementation and system integration services. It aims to boost organizational productivity and efficiency by integrating advanced AI tools.

    When is the release of “Crystal intelligence” expected?
    The release of “Crystal intelligence” is scheduled for 2026 and it will be marketed exclusively in Japan.

  • Nokia and SoftBank Seal Innovative Deal to Propel 5G Standalone Coverage Across Japan

    Nokia and SoftBank Seal Innovative Deal to Propel 5G Standalone Coverage Across Japan

    Nokia has recently declared the broadening of its existing collaboration with SoftBank Corp., showcasing a fresh agreement to supply sophisticated 4G and 5G radio access equipment across Japan. The agreement encompasses an enhancement of current network infrastructure and an extension of 5G standalone coverage through the utilization of Nokia’s cutting-edge AirScale portfolio. The roll-out will take place predominantly in Western Japan.

    Deploying Energy-Efficient Solutions

    As part of this contractual agreement, Nokia is set to incorporate its power-efficient AirScale Radio Access Network (RAN) solutions. This includes the incorporation of the latest Habrok Massive MIMO radios and AirScale baseband equipment. Nokia’s ReefShark System-on-Chip technology powers these solutions, promising stellar performance, expansive coverage, and ample capacity, all while ensuring superior energy efficiency. Additionally, Nokia’s AI-empowered MantaRay solution will be featured to boost network management and Self-Organizing Network capabilities.

    The Head of Radio Access Networks at Nokia, Mark Atkinson, expressed his enthusiasm for the extended partnership, stating that their solutions integrate AI capabilities, delivering unparalleled performance with industry-leading energy efficiency. He further mentioned that these developments support the progression towards Advanced-5G networks.

    Joint Ventures and Future Prospects

    Nokia and SoftBank, both founding members of the AI-RAN Alliance, are jointly embarking on research and development projects focusing on AI-RAN and 6G technologies. This collaboration encompasses joint research, field trials, and the establishment of a virtualized RAN platform. The companies are conducting tests in the 7 GHz frequency band for 6G in Tokyo, employing Massive MIMO technology.

    The Executive Vice President and CTO of SoftBank Corp, Hideyuki Tsukuda, reflected on the enhanced partnership with Nokia, stating that it will facilitate the development of a unique, high-quality 5G network powered by AI. He emphasized that the upgraded network will boost efficiency, reduce emissions, and provide a superior user experience for their customers.

    Questions & Answers

    What is the main aim of Nokia’s collaboration with SoftBank Corp?
    The collaboration aims to supply advanced 4G and 5G radio access equipment across Japan, enhancing the current network infrastructure and extending 5G standalone coverage.

    What key solutions will Nokia implement as a part of this partnership?
    Nokia will integrate its power-efficient AirScale Radio Access Network solutions, which include Habrok Massive MIMO radios and AirScale baseband equipment, powered by Nokia’s ReefShark System-on-Chip technology.

    What future ventures are Nokia and SoftBank planning?
    As part of the AI-RAN Alliance, both Nokia and SoftBank are embarking on joint research and development projects focusing on AI-RAN and 6G technologies, including field trials and the creation of a virtualized RAN platform.

  • Revolutionizing Radio Networks: SoftBank and NVIDIA’s Triumph in AI-Driven Massive MIMO

    Revolutionizing Radio Networks: SoftBank and NVIDIA’s Triumph in AI-Driven Massive MIMO

    A successful demonstration recently utilized an AI-RAN (Artificial Intelligence Radio Access Network) that performed radio signal processing entirely on NVIDIA’s graphics processing unit (GPU). This is a major shift from traditional systems that heavily relied on dedicated hardware, specifically field-programmable gate arrays (FPGAs) or application-specific integrated circuits (ASICs), for processing at the Physical Layer (PHY).

    Performance Under Real-World Conditions

    In the outdoor trial, SoftBank exhibited top-tier performance under real-world circumstances. They used a cutting-edge, virtualized RAN (vRAN) structure that performs this processing by using large-scale CUDA-accelerated parallel computation on NVIDIA’s GPU. This architecture also incorporates AI processing.

    Throughout the trial, AITRAS exploited the GPU’s efficient parallel processing skills to carry out extensive matrix computations crucial for Massive MIMO and PHY-layer signal processing. This was achieved entirely in software within the Distributed Unit (DU). Consequently, SoftBank affirmed the stable function of a 16-layer MU-MIMO downlink in outdoor settings. In comparison to the standard four-layer setup, both spectral efficiency and throughput improved by about three times.

    Significant Validation

    This success serves as a substantial validation of the PHY-layer execution on a GPU. It enables stable Massive MIMO operations within the specified processing time of the RAN. This is an important technical milestone that leads the commercialization of AI-RAN.

    In the AITRAS model, the connection between the DU and O-RAN-compliant Radio Unit adheres to O-RAN Split Option 7.2x. While some Massive MIMO implementations transfer parts of the uplink channel estimation and equalization processing from the DU to the O-RU, AITRAS uses a fully software-based approach within the DU. This uses the GPU computing power and aids in creating a Massive MIMO ecosystem using general-purpose O-RUs without needing extra functions.

    Uplink Radio Signals and AI Processing

    By combining uplink radio signals from various O-RUs into a single DU, equipped with an integrated AI processing unit, AI-based coordinated control for radio signal quality can be effectively executed across multiple O-RUs. This improves radio signal quality through uplink channel interpolation and boosts capacity through advanced beamforming techniques.

    The aim with the development of AITRAS is to speed up the practical implementation of AI-RAN, contributing to a more sustainable and flexible next-generation network infrastructure. The plan is to continue field trials and introduce AITRAS into commercial networks by 2026.

    Questions & Answers

    What is the significance of the recent demonstration by SoftBank?
    The demonstration is significant as it showed that radio signal processing can be performed entirely on NVIDIA’s GPU using AI-RAN, shifting away from the traditional reliance on dedicated hardware.

    What is the anticipated impact of AI-RAN in real-world conditions?
    AI-RAN demonstrated high performance under real-world conditions, improving both spectral efficiency and throughput by about three times. This could significantly enhance communication quality and overall capacity of base stations.

    What is the long-term goal for the development of AITRAS?
    The goal is to accelerate the practical implementation of AI-RAN, thereby contributing to the creation of a more sustainable and flexible next-generation network infrastructure. SoftBank plans to introduce AITRAS into its commercial network by 2026.

  • SoftBank’s PayPay Poised for Exciting Launch into International Markets!

    SoftBank’s PayPay Poised for Exciting Launch into International Markets!

    PayPay, the mobile payment service owned by SoftBank Group, is poised to expand its reach beyond Japan, with plans to launch its app for international use as early as late September. This move aims to cater to the growing number of Japanese travelers seeking seamless payment solutions while abroad.

    The service will initially be accepted at Alipay+ partner stores in South Korea, marking a significant step in PayPay’s strategy to capture the attention of international consumers and support Japanese tourists. This opening coincides with a surge in cross-border tourism as the world continues to rebound from pandemic restrictions.

    Masayoshi Yanase, a corporate officer at PayPay, shared insights during a press conference, affirming the company’s commitment to enhancing its digital services for users navigating unfamiliar markets. “With the globe opening up, we’ve recognized the need for our customers to make transactions abroad as smoothly as they do at home,” he stated.

    This initiative by PayPay represents more than just a functional upgrade; it’s a strategic pivot in the competitive landscape of mobile payment solutions in Asia. With increasing collaboration among digital payment platforms, this could very well be the start of a payment revolution across the region, and who wouldn’t want to pay with a simple tap instead of fumbling for cash?

    Questions & Answers

    How will PayPay’s expansion benefit travelers?
    The expansion allows Japanese travelers to make transactions in South Korea seamlessly, addressing a crucial need for smooth payment solutions abroad.

    What strategic advantages does this move present for PayPay?
    By collaborating with Alipay+ partner stores, PayPay positions itself competitively in the rapidly evolving mobile payment landscape in Asia, enabling it to attract both tourists and international consumers.

    What recent trends in tourism might influence PayPay’s strategy?
    The rebound in cross-border tourism following pandemic restrictions increases demand for accessible payment solutions, making this expansion timely and relevant for their target audience.

  • SoftBank Unveils Game-Changing DGX B200 SuperPOD: A Milestone for AI Computing Power

    SoftBank Unveils Game-Changing DGX B200 SuperPOD: A Milestone for AI Computing Power

    SoftBank Corp. has unveiled a groundbreaking DGX SuperPOD featuring DGX B200 systems, powered by over 4,000 NVIDIA Blackwell graphics processing units (GPUs). This formidable setup solidifies SoftBank’s position as the owner of the largest NVIDIA DGX SuperPOD worldwide equipped with DGX B200 systems. With the addition of NVIDIA Quantum-2 InfiniBand networking, this AI computing platform now boasts an impressive total of more than 10,000 GPUs, delivering a staggering computing power of 13.7 exaflops.

    A New Frontier in AI Development

    The advanced capabilities of this platform are set to be harnessed by SB Intuitions Corp., a subsidiary focused on developing large language models (LLMs) designed specifically for the Japanese language. In fiscal year 2024, SB Intuitions aims to build LLMs boasting around 460 billion parameters, with a commercial model dubbed “Sarashina mini” anticipated to launch by March 31, 2026, featuring 70 billion parameters. Leveraging the upgraded computing power, SoftBank is on a mission to accelerate the development of increasingly vast and sophisticated models that could revolutionize Japanese-language applications.

    Scaling New Heights in AI Performance

    SoftBank’s venture into AI computing is not new; they initially deployed a DGX SuperPOD with over 2,000 NVIDIA Ampere GPUs back in September 2023, achieving a performance benchmark of 0.7 exaflops. The journey, however, has been anything but stagnant. In October 2024, the company made headlines again by augmenting its capabilities with over 4,000 NVIDIA Hopper GPUs, catapulting the overall performance to an eye-watering 4.7 exaflops. It seems that in the race of AI, SoftBank has put its best foot forward — or, to be more precise, its best GPU!

    Building an AI Ecosystem

    The construction of this state-of-the-art AI computing platform has earned certification for supply assurance from Japan’s Ministry of Economy, Trade, and Industry (METI) as part of a Cloud Program under the Economic Security Promotion Act. This seal of approval underscores SoftBank’s intent to bolster the burgeoning generative AI (GenAI) development ecosystem. The company aims to provide computational resources not only for its internal projects but also extend this infrastructure-as-a-service (IaaS) model to other enterprises and research institutions throughout Japan, fostering growth and innovation across the sector.

    Questions & Answers

    What is the significance of SoftBank’s new DGX SuperPOD?
    SoftBank’s new DGX SuperPOD positions it as a leader in AI capabilities, boasting the largest platform of its kind in the world and dramatically enhancing its computational power to support advanced AI model development.

    How will SB Intuitions utilize this AI computing platform?
    SB Intuitions plans to use the upgraded platform to develop large language models tailored to the Japanese market, aiming for innovative applications and commercial releases in the coming years.

    What role does the Japanese government play in SoftBank’s AI initiatives?
    The Japanese government has certified SoftBank’s AI computing platform for supply assurance, supporting the development of critical technology under the Economic Security Promotion Act, which helps ensure a secure and robust technological infrastructure in Japan.

  • SoftBank and Nokia Kick Off Japan’s Pioneering 7 GHz 6G Trial

    SoftBank and Nokia Kick Off Japan’s Pioneering 7 GHz 6G Trial

    SoftBank Corp. is making a significant move in the race towards 6G by teaming up with Nokia for an outdoor trial scheduled for June 2025 that will explore the potential of the 7 GHz band—a centimeter-wave frequency gaining traction in discussions about next-generation mobile technology. This marks a groundbreaking first for a telecommunications carrier in Japan and positions SoftBank as a pioneer in this important field.

    Building the Future of Connectivity in Tokyo

    In a bid to assess the viability of urban 6G deployment, SoftBank plans to install three pre-commercial base stations in central Tokyo, utilizing cutting-edge massive multiple input, multiple output (MIMO) technology. The objective? To achieve coverage that rivals the impressive standards set by 5G.

    Examining the Next Level of Mobile Technology

    This trial will focus on comparing the radio characteristics and coverage of the 7 GHz band against the established 5G sub-6 band, particularly the 3.9 GHz spectrum. By strategically placing the new 7 GHz base stations alongside existing 5G installations atop city rooftops, SoftBank aims to gather comprehensive data. Upcoming tests will encompass both indoor and outdoor measurements, further fueling the research and development necessary for the commercialization of 6G technology.

    The Science Behind the Bandwidth

    Centimeter waves—radio waves with wavelengths between 1 to 10 cm—are part of a spectrum that includes frequencies from 3 to 30 GHz. The 7–24 GHz band, known as FR3 according to 3GPP standards, is emerging as a frontrunner for future mobile networks. SoftBank’s experiment targets the 7,125 to 8,400 MHz range, which is poised for dialogue at the ITU-R’s World Radiocommunication Conference 2027 (WRC-27) as a potential frequency for 6G, stirring global interest in the process.

    The 7 GHz band promises a much wider bandwidth compared to the existing 5G sub-6 GHz offerings. Coupling it with the current 5G band of 6,425–7,125 MHz (band n104) opens up nearly 2 GHz of contiguous spectrum, delivering the characteristics necessary for speedy and reliable communication. With mobile data traffic continuously on the rise—partly fueled by the explosion of artificial intelligence (AI)—this trial represents a crucial step in shaping the landscape of future connectivity.

    Questions & Answers

    What is the main goal of SoftBank’s trial with Nokia?
    The primary aim is to test the 7 GHz band for its potential as a future 6G frequency and compare its coverage and characteristics with those of existing 5G technology.

    Why is the 7 GHz band considered important?
    It offers significantly wider bandwidth than 5G’s sub-6 GHz frequencies, and its propagation characteristics make it suitable for high-speed communication, making it an enticing candidate for next-gen mobile networks.

    How does this trial contribute to the future of mobile communication?
    As mobile data demands grow, particularly due to advancements in AI, this trial lays vital groundwork for developing and eventually commercializing 6G technology, ensuring future connectivity keeps pace with demand.

  • SoftBank Corp., Intelsat Forge Partnership to Enhance Connectivity

    SoftBank Corp., Intelsat Forge Partnership to Enhance Connectivity

    SoftBank Corp. and Intelsat have announced a pioneering partnership to develop a unified ubiquitous network designed to provide constant connectivity for users regardless of their location.
    The collaboration will see the two companies working together on research and development (R&D) initiatives to achieve seamless 5G integration between terrestrial mobile networks and satellite communications.

    Under their new partnership, SoftBank and Intelsat aim to create a hybrid communication solution that will keep users connected globally, whether it be via terrestrial or satellite networks or using a single device and account.

    This solution will utilize standard architectures, interfaces, and processes similar to those that currently facilitate device roaming between cellular networks. It is expected to accelerate the commercial deployment of mobility solutions based on the latest 3GPP 5G standards for non-terrestrial networks.

    A primary objective of the SoftBank-Intelsat collaboration is to create a universal device that remains connected in different regions and scenarios.

    For instance, a connected vehicle equipped with this device would automatically switch to satellite communication when out of range of terrestrial networks. This innovative solution is anticipated to have broad commercial applications, including in land transportation, maritime operations, and disaster response and recovery.

    The project will proceed through several phases including design, development, field testing, and commercialization. These efforts will synchronize with the evolution of new 3GPP 5G non-terrestrial network standards. The hybrid solutions developed will support both existing satellite terminals and future 5G-based terminals as they become available.

    “Intelsat and SoftBank share a pioneering vision of ubiquitous networking and seamless interoperability between satellite and terrestrial networks,” said Bruno Fromont, Intelsat Chief Technology Officer. “Until now, the challenge was aligning standards that allowed the two different networks to connect. With recent progress on 5G-based standardization of non-terrestrial networks led by Intelsat at 3GPP and this strategic collaboration with SoftBank, we are ideally positioned to accelerate the design and practical implementation of commercial hybrid services that will allow devices to freely roam between satellite and terrestrial networks.”

    Hideyuki Tsukuda, Executive Vice President and CTO of SoftBank, emphasized that integrating terrestrial mobile networks with satellite communication through advanced roaming technology could merge these previously separate networks.

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  • SoftBank Plans $35 Million Bet On India’s GoMechanic

    SoftBank Plans $35 Million Bet On India’s GoMechanic

    SoftBank Group is in talks to invest $35 million in Indian car service and repair firm GoMechanic, in what would be one of the Japanese investor’s smallest bets in India by its Vision Fund, which typically signs bigger cheques, two sources told Reuters.

    SoftBank has for years been a prominent backer of Indian startups, investing close to $4 billion last year alone, according to data from Venture Intelligence. Its big-ticket investments include digital payments firm Paytm and online education firm Unacademy.

    But investment industry executives say SoftBank has started taking a more measured approach to its investments after a global tech rout. Last month, its boss Masayoshi Son said SoftBank would invest much less this year than in 2021, following a record $26.2 billion quarterly loss at its Vision Fund on falling tech valuations.

    Vision Fund’s early-stage talks with GoMechanic are being held around a valuation of $600-700 million, with Malaysian sovereign fund Khazanah and existing investor Tiger Global also planning to invest in the $100 million funding round, said the two sources familiar with the matter, who declined to be named as the talks are private.

    GoMechanic and SoftBank declined to comment, while Khazanah and Tiger Global did not respond to requests for comment. Bloomberg News has previously reported Khazanah’s interest in the funding round.

    Founded in 2016, GoMechanic has serviced and repaired more than two million cars in India through its service centers, and says it costs 40% less than automakers’ own offerings.

    SoftBank has been in discussions with GoMechanic for more than nine months and was initially uncomfortable with the Indian firm’s valuation request of $1 billion, said the first source.

    GoMechanic was valued at $300 million last year, and currently has a gross annual revenue of around $40 million, the person added.

    In May, two sources told Reuters that SoftBank’s Son had started telling executives to invest smaller sums at earlier stages and spend more time on due diligence.

    SoftBank executives began focusing in early 2022 on early-stage investments, with deals around $50 million or less, a change in strategy from before when it typically did larger late-stage deals, the sources added.

    SoftBank’s second Vision Fund of $40 billion is smaller than its first $100 billion vehicle. It announced in August it would limit the second fund to managing its current portfolio of investments.

  • Neso Brands appoints CEO after $100 million funding round

    Neso Brands appoints CEO after $100 million funding round

    Neso Brands, a subsidiary of eyewear manufacturer Lenskart, has raised $100 million in a seed funding round, which will enable the firm to create a house of brands catering to the global market.

    The company did not divulge the details of the investors involved. However, Lenskart, which owns Singapore-headquarted Neso, has earlier raised large sums in funding from prominent investors such as KKR, SoftBank, Alpha Wave Global and Temasek.

    Founded in 2022, Neso Brands is an eyewear manufacturer and retailer that leverages analytics, tech, and its own supply chain and distribution, to create a large network of co-owned direct-to-consumer (D2C) brands.

    Based out of Singapore, Neso Brands plans to sell its eyewear products to a global market by partnering up with the top entrepreneurs in the industry. It plans to invest in consumer eyewear brands around the world and grow these brands by leveraging synergies across the Lenskart group to accelerate international expansion.

    Neso Brands will utilise e-commerce and technologies such as AR and AI for eyewear brands as a strategy to capture global market share. Neso Brands will house these brands and enable a quicker global rollout by giving the brands access to shared resources – particularly technology, supply chain, distribution, capital and best practices.

    Neso Brands also said Bjorn Bergstrom has joined the founding team as the CEO.

    Bergstrom is an experienced investor and D2C operator, having most recently served as chief growth officer and interim chief product & technology officer for the global fashion brand NA-KD. Bergstrom’s experience prior to that includes working as a venture capital investor focusing on early-stage growth startups, management consulting as well as operational roles at consumer startups.

    “Today, there is a perfect storm in the eyewear industry that makes it ripe for disruption. Consumers have increasingly high demands when it comes to customer experience, branding, and choice, but incumbent players have been unable to keep up. By investing in the most promising new brands in the industry and leveraging centralised resources across technology, manufacturing and distribution, Neso Brands will be uniquely positioned to scale the eyewear brands of the future,” Bergstrom, CEO of Neso Brands, said in a statement.

    “With this investment in Neso Brands, we want to accelerate our mission of transforming the way people see and experience the world. Consumers want better and better every day and while people’s quality of life has been uplifted through all other lifestyle products such as shoes, apparel and wearables, eyewear products are the same old with no innovation, just more expensive. And Neso is our initiative to partner with founders globally to help create eyewear brands of the future,” Peyush Bansal, CEO of Lenskart, said.

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  • SoftBank Q3 profit collapses as Arm deal falls through

    SoftBank Q3 profit collapses as Arm deal falls through

    SoftBank Group Corp. reported on Tuesday a 97 percent tumble in quarterly profit and the collapse of a deal to sell chip designer Arm worth over $60 billion, mounting pressure on the Japanese conglomerate to support its sagging shares.SoftBank reported that it had squeezed out a net profit of 29 billion yen ($251 million) in the October to December quarter, compared with a record 1.2 trillion yen profit booked a year earlier as its portfolio rallied.Separately, SoftBank announced that the sale of Arm to Nvidia had fallen through amid regulatory hurdles in a major setback to its fund raising plans.

    The decision comes after US authorities filed a lawsuit seeking to block the sale and probes were launched into the deal in the United Kingdom and Europe.The Japanese investment giant said it would recognize a $1.25 billion breakup fee that Nvidia had deposited as a profit in the fourth quarter.After tech unicorns plunged into the “valley of the coronavirus” in the early days of the COVID-19 pandemic, SoftBank CEO Masayoshi Son rode a recovery in valuations as startups such as e-commerce firm Coupang came to market.

    Now valuations are again under pressure as investors cast a skeptical eye over tech firms promising future profits and central banks move toward paring pandemic stimulus.

    The Vision Fund unit posted an investment gain of 111.5 billion yen during the quarter, a sharp decrease from a 1.4 trillion yen gain a year earlier.

    “Even though some of the public companies have come down in value, there have been significant follow-on funding rounds where outside institutional investors have led those rounds,” Vision Fund’s Chief Financial Officer Navneet Govil told Reuters.

    Many SoftBank portfolio companies are trading below their listing price, with office-sharing firm WeWork, ridehailer Grab and used-car platform Auto1 all falling during the quarter.

    The group’s exposure to China has also affected performance, as regulators take action against tech firms. Shares of e-commerce giant Alibaba, in which SoftBank has a stake, dropped a fifth in the three months to the end of December.

    Such assets are used by the group for loans as it invests through its Vision Fund unit, which runs the $100 billion Vision Fund and a smaller second fund and has become the priority for the group.

    Vision Fund 2, which had $51 billion in committed capital at the end of December, had invested $43.1 billion in more than 200 startups. Industry observers have noted a disconnect between frothy private markets and skepticism in public markets.

    “We are seeing some healthy rebalancing… at some of the more extreme ends of the market,” Govil said. “We did turn down quite a few transactions because we thought valuations were rich.”

    Portfolio companies, including sports e-commerce firm Fanatics, held funding rounds during the quarter. Vision Fund has distributed $44.2 billion to its limited partners across both funds.

    The earnings come at a watershed moment for the conglomerate as senior executives exit the firm, including Chief Operating Officer Marcelo Claure , who led the restructuring of WeWork and launched the group’s Latin American-focused fund.

    The company has also seen internal turbulence recently following reports that Claure’s demands for as much as $1 billion in compensation had fuelled an internal clash.

    SoftBank launched a 1 trillion yen buyback in November.

    Group shares closed down 0.9 percent ahead of the earnings and have lost about half since highs in March last year.

    Son, who three months ago said SoftBank was in a “blizzard,” will speak at a news conference at 4:30pm local time

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  • SES partners Softbank to deliver live sporting events into Japan

    SES partners Softbank to deliver live sporting events into Japan

    Japanese sports fans will be able to enjoy more premium sports content as SoftBank Corp. (SoftBank), a leading telecom carrier in Japan, has partnered with SES for the aggregation and delivery of live sporting events to its corporate customers, such as TV stations and video distribution companies, SES announced.

    Under the new agreement, SES, via its diverse global infrastructure of multi-orbit satellite fleets and fibre network, will aggregate content and deliver it directly to SoftBank. In providing this service, SES will use more than 300 downlink antennas located around the world, including those in its new Stockley Park facility in London, as well as its own fibre network with connections to other major fibre hubs. In addition, SES will establish a new link to SoftBank’s fibre network.

    “Whether viewed on mobile devices or broadcast TV, tennis, football, golf, and other live sports are some of our most popular content that we see a growing demand for,” said Norioki Sekiguchi, Vice President, Global Business Division at SoftBank Corp. “With its diverse global infrastructure and access to a variety of sports content, SES is in a unique position to help us deliver a wide range of sports content in very high quality to our corporate customers in Japan.”

    “We are delighted to join forces with SoftBank, the first provider we are interconnecting and partnering with in Japan, with a common goal to bring engaging content to sports fans across the country,” said Ed Cox, Vice President, Sales North America and Sports & Events at SES. “Providing content feeds solely using fibre networks is great testament to SES’s ability to adapt and leverage our hybrid distribution services in the most effective way possible to meet our partner’s needs.”

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  • SoftBank-backed Dingdong raises US$95.7 million in downsized US IPO

    SoftBank-backed Dingdong raises US$95.7 million in downsized US IPO

    Chinese grocery app Dingdong, backed by SoftBank Vision Fund 2, raised about $95.69 million in its US initial public offering (IPO) on Tuesday after slashing the size of the IPO to almost a fourth of its earlier target.

    Dingdong sold more than 4 million American depositary shares (ADSs) priced at $23.5 apiece, the lower end of its indicative price range.

    The company had earlier planned to raise up to $357 million in its IPO by selling 14 million ADSs priced between $23.5 and $25.5.

    Established in 2017 and also backed by Tiger Global Management and Sequoia Capital, Dingdong operates mainly in China’s first-tier cities such as Shanghai, Beijing, Shenzhen, and Hangzhou.

    Rival online grocery company Missfresh Ltd, which is backed by Tencent Holdings Ltd, slumped in its Nasdaq debut last week. It was trading almost 17 percent below its IPO price until Monday’s close.

    Morgan Stanley, BofA Securities, and Credit Suisse were the IPO’s lead underwriters.

    Dingdong’s ADSs are set to begin trading on the New York Stock Exchange later in the day under the ticker symbol “DDL”.

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  • SoftBank-backed DoorDash enters Japan

    SoftBank-backed DoorDash enters Japan

    U.S. food delivery firm DoorDash, which is backed by SoftBank Group, announced the launch of services in Japan on Wednesday, joining an increasingly crowded market that has grown during the COVID-19 pandemic.

    Services will be initially limited to the city of Sendai in Miyagi prefecture, the money-losing delivery firm told reporters, in a step that follows its expansion to Canada and Australia.

    “Our strategy has always been to empower local economies, especially in the suburban markets that are historically underserved, yet the appetite for connectivity between merchants and customers is high,” Chief Executive Tony Xu said in a statement.

    SoftBank already backs some of the largest delivery services in Japan, such as Uber Eats from Uber Technologies and Demae-can.

    Last month, DoorDash raised its forecast for annual gross order value, as stimulus checks helped keep food delivery demand resilient in the first quarter, even as vaccinations and an easing of curbs encouraged dining out again.

    DoorDash, which has also branched out into delivery from grocery and convenience stores last year, reported a nearly three-fold jump in quarterly revenue to $1.08 billion.

    The company has seen a surge in order volumes during the pandemic as consumers hesitant to step out order essential items by telephone.

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  • Softbank’s Masayoshi Son Undecided About Bitcoin

    Softbank’s Masayoshi Son Undecided About Bitcoin

    Softbank founder Masayoshi Son spoke out about the adoption of Bitcoin, underlining that uncertainty remained for the top cryptocurrency.

    Softbank was the latest global firm to share its views on the popularity of Bitcoin and the potential adoption of the cryptocurrency.

    There’s a lot of discussion over if it’s a good thing or a bad thing, what’s the true value or is it in a bubble, said Masayoshi Son during Softbank’s recent earnings conference.

    Honestly speaking, I don’t know.

    Despite the uncertainty, Son noted that Bitcoin’s popularity has transformed it into a platform that can’t be ignored like diamonds or bonds.

    There’s no need to reject the cryptocurrency either, said. We are always having such internal discussions.

    Financial firms aside, numerous global tech firms are also increasingly exploring Bitcoin opportunities – particularly as a payment method – such as gaming console Xbox and electric vehicle company Tesla, though the latter recently suspended car purchases using the cryptocurrency.

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