SoftBank set to takeover robotics firms from Alphabet Inc (NASDAQ:GOOG)

SoftBank set to takeover robotics firms from Alphabet Inc (NASDAQ:GOOG)

SoftBank set to takeover robotics firms from Alphabet Inc (NASDAQ:GOOG)

On Friday, Japan-based SoftBank Group Corp revealed that a unit of the firm will acquire two companies that manufacture walking robots from Alphabet Inc(NASDAQ:GOOG), which would add to the group’s rising artificial intelligence range.

The firm said it will acquire Boston Dynamics and Tokyo-based Schaft, which devise and build robots that replicate human movement. It did not disclose the terms of the transactions.

SoftBank’s stock surged as much as 7.9% following the deal was revealed, hitting a 17-year high.

SoftBank’s Masayoshi Son said in a statement that “Smart robotics are going to be a key driver of the next stage of the information revolution, and Marc (Raibert) who is CEO and founder of Boston Dynamics and his team are the clear technology leaders in advanced dynamic robots,”

Meanwhile SoftBank has embarked on an hard line purchase movement to bolster its research and development capabilities. The group is supporting the $93 billion Vision Fund, the world’s largest private equity fund, which seeks to invest in technologies likely to grow extensively in the near future, such as robotics and artificial intelligence.

On the meantime Masayoshi Son, who is also Japan’s richest man, describes the fund as vital for setting up SoftBank for a data “gold rush” which he predicts to happen as the global economy becomes increasingly digitized.

Furthermore Schaft, a University of Tokyo spinoff, manufactures bipedal robots intended to negotiate bumpy ground.

Moreover Boston Dynamics has made so many robots that imitate human and animal movement including Atlas, a human shaped robot that co-ordinates motion and balance using its arms and legs and can pick itself up off the ground when knocked over.

Leave a reply

0 Comments

There are no comments on this post.

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

When trading in stocks your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.