SoftBank Group reported an 18% drop in fiscal first quarter profit as higher costs offset investment gains, though the company received a significant boost from Intel's tripled share price during the quarter. The results highlight mixed performance in the technology investor's AI-focused portfolio.
South Korea unveiled a massive industrial strategy with over $576 billion in investments from Samsung Electronics and SK Hynix to build semiconductor manufacturing hubs and AI data centers, aimed at cementing the country's global leadership in chips and artificial intelligence.
Amazon founder Jeff Bezos told CNBC that concerns about an artificial intelligence bubble are unfounded, arguing that the substantial investments being made in AI will ultimately advance the technology regardless of short-term market dynamics.
