Asian technology stocks fell sharply on Friday, as SoftBank Group tumbled more than 12% and chip-heavy markets from Tokyo to Seoul came under fresh pressure. The selloff followed a fourth straight decline on the Nasdaq, where Apple sank 6.1% after announcing price increases for iPads and MacBooks to offset surging memory and storage chip costs.
SoftBank founder and CEO Masayoshi Son told shareholders on Wednesday that artificial intelligence is still in its early stages and any talk of a bubble is "an insult to AI".
Masayoshi Son, the founder of SoftBank, has challenged the idea of space-based AI data centers. Son said this week that the potential benefits don't outweigh the costs of operating them.
Coowa's valuation stood at more than $3 billion after it raised more than $600 million in its latest funding round, people familiar with the matter said.
Hyundai Motor Group is moving closer to full control of Boston Dynamics, with plans to buy SoftBank Group's remaining 9.65% stake in the US robotics company for $325 million, according to South Korea's Maeil Business Newspaper. Hyundai's board is expected to meet on June 22 to approve the purchase, the report said, citing unnamed industry sources.
Hyundai Motor Group plans to buy SoftBank Group's remaining 9.65% stake in Boston Dynamics for $325 million to make the U.S. robotics firm a wholly owned subsidiary, South Korea's Maeil Business Newspaper reported on Friday.
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