Monday December 16, 2019
Home Business SoftBank Grou...

SoftBank Group Announces Launch of “Vision Fund 2” with Participation from Tech Giants Like Apple, Microsoft

The objective of the Fund is to facilitate the continued acceleration of the AI revolution through investment

0
//
SoftBank, Apple, Microsoft
The new private investment fund's capital has reached about $108 billion and SoftBank Group's own investment will be $38 billion, the company said in a statement. Pixabay

In a bid to accelerate the development and adoption of Artificial Intelligence (AI)-based technology, Japanese conglomerate SoftBank Group on Friday announced the launch of “Vision Fund 2” with participation from tech giants like Apple, Microsoft and Foxconn, among others.

The new private investment fund’s capital has reached about $108 billion and SoftBank Group’s own investment will be $38 billion, the company said in a statement.

“The objective of the Fund is to facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies,’ said SoftBank.

The total expected contribution of capital to the tech megafund und has reached approximately USD 108 billion

SoftBank, Apple, Microsoft
In a bid to accelerate the development and adoption of Artificial Intelligence (AI)-based technology, Japanese conglomerate SoftBank Group on Friday announced the launch of “Vision Fund 2”. Pixabay

Other institutions who are expected to participate in the fund are Mizuho Bank, Ltd, Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., Dai-ichi Life Insurance Company Limited, Daiwa Securities Group Inc., National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and major participants from Taiwan.

“The new fund is expected to decrease SoftBank’s reliance on Saudi Arabian investment and also potentially change the relationship between startups, corporate giants like Microsoft and investors,” reports TechCrunch.

In its first $97 billion Vision Fund announced in early 2017, SoftBank invested in companies like Paytm, Oyo Rooms, ride-hailing firms Didi Chuxing and Grab and grocery delivery startup Grofers, among others.

The maiden fund has earned 62 per cent returns to date, SoftBank said last month.

Also Read- This Beer is Perfect Fusion of Spanish and Indian Ethos

According to Masayoshi Son, SoftBank Chief Executive, the new fund will benefit from the rising amount of real-world data gathered by sensors, cameras and other machines. (IANS)

Next Story

Apple Releases Dark Mode for its iTunes Remote App

iTunes Remote is a free app for controlling music libraries and other content on the Mac with the iPhone. It can be downloaded from the iOS App Store

0
apple, software, updates, iOS
An Apple company logo is seen behind tree branches outside an Apple store in Beijing, Dec. 14, 2018. VOA

Apple has released a new version of its iTunes Remote app for iOS, featuring Dark Mode and enhanced support for the new Music and TV apps included with macOS Catalina.

Following new iOS update and the macOS 10.15.2 update, the iTunes Remote app can be used to control playback in the Music and TV apps in macOS Catalina.

Apple, iTunes, Software
iTunes was formally launched in 2001 and its music store was launched two years later. Pixabay

“iTunes Remote is the best way to control Apple Music, iTunes and the Apple TV app from anywhere in your home. Simply download the app to your iPhone or iPad and connect directly to Apple Music, iTunes or the Apple TV app on your Mac or PC,” the company said in a statement recently.

Also Read: Fake Ads on Facebook Spreading Rumours About anti-HIV Drugs

As per report, Apple probably also fixed some bugs and improved the overall performance of the app with the new update, although the release notes did not mention it,

iTunes Remote is a free app for controlling music libraries and other content on the Mac with the iPhone. It can be downloaded from the iOS App Store. (IANS)