Shulou(Shulou.com)11/24 Report--

CTOnews.com July 25 news, Softbank Corp. company is currently working on AI-related technology research and development, CEO son last month is to declare that "if you can not embrace AI is the loss of the future," and said Softbank Corp. company is working on the design of the Japanese version of ChatGPT.

Softbank Corp. is still making a lot of moves this month, and the group announced on Monday that it was forming a joint venture with warehousing automation company Symbotic, which is controlled by Japanese technology investors and whose main business is to build AI-driven warehouses. Softbank Corp. will own 65 per cent of GreenBox and Symbotic will hold the remaining 35 per cent.

It is reported that Symbotic, headquartered in Wilmington, Massachusetts, mainly provides robotic warehouse automation solutions. Wal-Mart is the main supporter and customer of the company. Symbotic is currently helping Wal-Mart transform its commercial warehouses to achieve automated warehouse management based on AI.

It is reported that Softbank Corp. and Symbotic will invest a total of US $100 million (CTOnews.com note: about 719 million yuan) in the newly established Greenbox enterprise, and the two sides have also signed a contract that Softbank Corp. will buy $7.5 billion (56.814 billion yuan) worth of AI systems from Symbotic in the next six years.

The deal will give Softbank Corp. warrants for about 2 per cent of Symbotic's outstanding shares. Softbank Corp. also bought 17.8 million Symbotic shares from Rick Cohen, chief executive of Symbotic, bringing Softbank Corp. 's stake in Symbotic from about 5 per cent to 8 per cent today.

Symbotic said that once the joint venture becomes operational, it is expected to generate more than $500 million in sustained annual revenue from sales of software, components and services. As of fiscal year 2022, Symbotic reported revenue of $593.3 million (about 4.243 billion yuan), an increase of 136% year-on-year and a loss of $139.1 million (about 995 million yuan).

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