This story is part of Forbes' coverage of Japan's Richest 2026. See the full list here.
U.S. tech-heavy Nasdaq declined more than 4.5% last week. "The tech-led rout erased approximately $1.8 trillion in S&P 500 market cap," according to a UOB note.
This is a developing story.
Shares of SoftBank fell 10% amid a decline in other Asian tech giants. There are market concerns over the Japanese investment firm's high-risk bets on AI.
SoftBank's concentrated AI bets are reviving concerns over its mounting debt. The company's shares have surged about 70% this year on investor enthusiasm over AI.
Masayoshi Son said that his Tokyo-based technology conglomerate would unleash at least $52 billion of investment in French data centers.
SoftBank Group's Masayoshi Son has become the richest person in Asia amid the AI boom. Market euphoria has propelled shares of the Tokyo-listed investment giant to a record high, making it Japan's most valuable company by market capitalization on Monday, overtaking automaker Toyota Motor.
AI revolution is '50x bigger' than the dotcom boom: SoftBank's Masayoshi Son to CNBC
Japan's Nikkei 225 rose above 67,000 for the first time on Monday, as a surge in SoftBank Group turned the technology investor into the country's most valuable listed company and underlined the growing force of the artificial intelligence trade in Tokyo. The blue-chip gauge climbed as much as 1.4% to an intraday record of 67,231.28 before ending the midday session at 67,038.24, up 1.1%.
SoftBank Group announced today that it plans to spend up to €75 billion (around $87 billion) to expand data center capacity in France.
SoftBank is promising to spend at least $52 billion on building a network of massive data centers in France, helping advance Europe's goal of tech independence with what would be the continent's largest AI infrastructure project.
Japan's SoftBank Group will invest €45 billion over the next five years in a push to build up artificial intelligence infrastructure in France, founder Masayoshi Son told the paper La Tribune Dimanche in an interview published on Saturday.