SoftBank CEO Masayoshi Son Predicts AI Will Dwarf Dot-Com Boom

If the artificial intelligence sector experiences a market correction, it will soon bounce back, SoftBank CEO Masayoshi Son said Monday (June 1).

Speaking with CNBC, Son said that while there is “always a correction,” history shows that auto and electronics stocks bounced back and enjoyed a long run after the 1929 Wall Street crash, and the internet came back after the dot-com crash in the 2000s, CNBC reported Monday.

Referring to AI, Son said, “There may be some correction, but that will be the best investment opportunity to me.”

Son also said during the interview that the AI revolution is probably 50 times bigger than the dot-com one, and that it is “the biggest revolution of technology and realization that mankind ever experienced.”

A day before Son spoke with CNBC, SoftBank announced it is investing €75 billion (about $87 billion) to build AI data center capacity and other AI infrastructure in France.

The company said in a Sunday (May 31) press release that its AI data centers in the country will support growing demand for high-performance computing from AI companies, cloud providers, enterprises, public institutions and research organizations, while its large-scale industrial production cluster will provide a more localized and more resilient supply chain for data center infrastructure in France and Europe.

“AI is entering a new era, and the countries that build the infrastructure for this transformation will shape the future of technology, industry and society,” Son said in the release. “SoftBank is proud to make this major commitment to France. With its industrial capabilities, talent base and national ambition, France is uniquely positioned to become a leading AI infrastructure hub in Europe.”

Son said in June 2024 that “artificial super intelligence (ASI)” that is 10,000 times smarter than humans would be achieved within 10 years and would deliver “a big improvement” to humans’ lifestyle.

SoftBank announced in October that it plans to complement its existing investments in AI and robots by acquiring ABB’s robotics business for $5.375 billion. The company said ABB’s robotics business is a globally recognized brand with extensive sales channels and customer relationships, and SoftBank’s investment in cutting-edge technologies can “reignite the robotics business’s growth.”