Nvidia deal for Arm will drive computing power growth, says SoftBank’s CEO

Japan's SoftBank Group Corp. CEO Masayoshi Son attends a news conference in Tokyo on Nov. 5, 2018. (REUTERS/File Photo)
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Updated 23 October 2020

Nvidia deal for Arm will drive computing power growth, says SoftBank’s CEO

  • Saudi Arabia's Public Investment Fund (PIF) is an anchor investor in the $100 billion Vision Fund

TOKYO/DUBAI: SoftBank Group Corp. CEO Masayoshi Son said on Thursday the sale of chip designer Arm to Nvidia Corp. will drive growth in computing power, in his first public comments since the $40 billion deal was announced in September.
Son made the comments at a virtual summit about artificial intelligence hosted by Saudi Arabia, an anchor investor in the $100 billion Vision Fund, at which he reiterated his belief that AI would transform society.
The Nvidia deal, part of a series of asset sales by Son, whose group has been shaken by soured investments and the COVID-19 pandemic, has raised concerns it will threaten Arm’s role as a neutral supplier in the industry.
Son is set to speak next week with Nvidia CEO Jensen Huang at SoftBank World, the group’s annual event for customers and suppliers that is being retooled as it focuses on investing.
SoftBank’s growing cash pile is driving speculation about future investment plans, with the Vision Fund targeting external funding for a blank-check company, a source said, in a sign the group is regaining its mojo.
“I am a risk taker,” Son said on Thursday.
Rajeev Misra, CEO of SoftBank Investment Advisers which oversees the Vision Fund, said the market share gained by online commerce companies in the last six to eight months is more than what they gained in the previous four years put together.
“COVID has accelerated the acceleration of AI even further,” Misra told the same conference, adding in the 105 companies Vision Fund 1 and 2 have invested in, artificial intelligence is the core of their businesses. 

 

 

 


Saudi Arabia ranks Kingdom's internet speeds for Q3 2020

Updated 30 November 2020

Saudi Arabia ranks Kingdom's internet speeds for Q3 2020

  • STC came in the first place in terms of mobile internet average download speed

The Communications and Information Technology Commission (CITC) released its report on internet speeds in the Kingdom (Meqyas) for Q3 2020.

The report compared the speeds of service providers in the Kingdom through download, upload and 5G speeds, ranks the best performing operators in each region.

Saudi Telecom Co. (STC) came in the first place in terms of mobile internet average download speed, with 78.17 Mbps. Meanwhile, Etihad Etisalat Co. (Mobily) and Mobile Telecommunication Company Saudi Arabia (Zain KSA) came in the second and third places with 67.71 Mbps and 61.58 Mbps, respectively.

Zain KSA ranked first in terms of fixed mobile internet average download speed, with 110.88 Mbps, followed by Integrated Telecom with 84.79 Mbps and Mobily with 76.68 Mbps.

Meanwhile, STC took the first place in terms of the mobile average download speed in Riyadh, Makkah, Northern Province, Northern Province, Qassim, Al Jouf, Tabuk, Al Baha, Jazan. Mobily came first among telecom operators in Madina, Hail, Najan and Aseer.

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