SoftBank Group says it will invest 'cautiously' in AI as first-half loss widens

Weak yen and investment costs erase Vision Fund's improving performance

softbank

Japanese conglomerate SoftBank has been hurt by the technology market downturn. © Reuters

RYOHTAROH SATOH, Nikkei staff writer

TOKYO -- SoftBank Group said on Thursday it is "cautiously" restarting its investments in artificial intelligence-related companies while acknowledging the environment is "not at the level that you can feel safe" amid market concerns about high interest rates cooling growth in the U.S. and elsewhere.

"We are entering the investment mode," Chief Financial Officer Yoshimitsu Goto said at an earnings news conference on Thursday, while noting that the Japanese company is still considering "very carefully" where to put its money. SoftBank is "making decisions conservatively," he added.

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