SoftBank Group Corp. (OTC:SFTBY) CEO Masayoshi Son has made a bold claim, stating that the ongoing AI revolution is “50x bigger” than the dot-com boom of the 2000s.
Son’s comments came on the heels of SoftBank’s announcement of a hefty 75 billion euros ($87 billion) investment in building AI infrastructure in France, including a 5 GW AI data center. Speaking to CNBC on Monday, Son acknowledged the dot-com crash as a minor setback in a larger growth story. He likened the current AI revolution to the inception of the internet, calling it “the biggest revolution of technology and realization that mankind ever experienced”.
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The SoftBank CEO acknowledged that market corrections are inevitable but argued they can create attractive buying opportunities. Drawing a parallel to the 1929 crash, he noted that auto and electronics stocks eventually delivered decades of growth. “So there may be some correction, but that will be the best investment opportunity to me," he added.
Despite SoftBank’s significant investment in OpenAI, Son dismissed concerns of overexposure, stating that the AI startup comprises just over 20% of the group’s net asset value. He also expressed optimism about OpenAI‘s potential IPO.
