Worries about a bubble in artificial intelligence investments are absurd, SoftBank Group’s CEO Masayoshi Son said Tuesday, deriding such doubts as backward and akin to questioning the use of cars and planes.
“To ask whether AI is a bubble is a foolish question,” Son told executives at an annual company event in Tokyo. “AI will transform our lives completely, and do so in a way that generates profits.”
“Those who refuse to evolve are closing down their world. Those who condemn AI are themselves spitting upward,” Son added.
Financial markets have recently been swept by waves of concern that the meteoric rise in share prices of companies like Nvidia, and massive investments in data centers, might not yield returns that match hopes for huge profits from AI.
Son founded SoftBank more than four decades ago and is a pioneer in Japan’s technology investments. He was an early supporter of AI and has invested tens of billions of dollars in related companies.
