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India's biggest <keyword id="19972015" type="General" weightage="20" keywordseo="e-scooter" source="keywords">e-scooter</keyword> maker, <keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword>, has ramped up capacity at its service centres across the country by over 30% to transform its service and elevate the <keyword id="22742985" type="General" weightage="20" keywordseo="after-sales-experience" source="keywords">after-sales experience</keyword> of customers, sources said. The Softbank Group-backed firm, which commands nearly a third of the market share in India's e-scooter market, has added more than 50 <keyword id="23754615" type="General" weightage="20" keywordseo="service-centers" source="keywords">service centers</keyword> and has hired over 500 service technicians across new and existing service centres to streamline operations and clear all backlogs. Recently, the company announced that it has managed to clear about 99% of its complaint logjam, even as public backlash on the company's e-scooters continues to emerge almost every day. Reportedly, <keyword id="20127554" type="General" weightage="20" keywordseo="CCPA" source="keywords" meta.keywordsubtype="org" meta.entityname="CCPA" meta.hostid="261" meta.entityid="CCPA">CCPA</keyword> is set to probe this claim, with the company also onboarding Ernst &amp; Young for service transformation, strategy, and optimization of overall service processes. "The company has already cleared around two-thirds of the service backlog and should be able to clear the remaining in the next couple of weeks," said a senior official within the organization, requesting anonymity, to ANI. <keyword id="19945904" type="General" weightage="20" keywordseo="ola" source="keywords">Ola</keyword> was in the spotlight earlier this month following a public spat between its founder <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword> and standup comedian Kunal Kamra over the quality of service. Last week, <keyword id="20328940" type="General" weightage="20" keywordseo="HSBC-Global-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="HSBC Global Research" meta.hostid="261" meta.entityid="HSBC Global Research">HSBC Global Research</keyword> maintained a 'buy' rating for Ola Electric shares with a target price of Rs 110 apiece, slashing it down from its earlier recommendation of Rs 140. The global research firm revisited Ola Electric's service centers a month after an earlier inspection in September and noted the need for substantial improvements in service centers. On NSE, Ola Electric shares dipped below its IPO issue price of Rs 76 on Tuesday, hitting its 52-week low of Rs 74.84. Today, it closed the day at Rs 80.90, up by 1.34%. At present, the company has a total market cap of Rs 35,683.61 crore. The stock closed at Rs 80.88, up by 1.28% today on the BSE. In September, founder and CMD Bhavish Aggarwal announced the #HyperService campaign to offer technology-led, best-in-class after-sales experience. As part of the announcement, Ola Electric plans to double the company-owned service network to 1,000 centers by December 2024. According to the government portal Vahan, Ola Electric has reinforced its leadership position in the category with an increased market share of over 30% in October 2024 so far, up from 27% in September 2024.

Ola Electric boosts service capacity by 30%; adds over 50 centers, and 500 technicians to clear complaint backlog

<ul class="summary-list"><li>SoftBank reported a $7.7 billion quarterly profit on Tuesday after a loss last year.</li><li>Gains in its tech bets come as it prepares to invest further in AI and eyes future IPOs.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/masayoshi-son-softbank-gambling-man-lionel-barber-technology-2024-9">SoftBank's</a> bets on AI and timely public listings have helped it post its biggest profits for two years, a year after posting losses in the billions.The Japanese technology conglomerate swung to a 1.18 trillion yen ($7.7 billion) profit on Tuesday. For the same period last year it reported a 931.1 billion yen ($6 billion) loss. Masayoshi Son's company — once associated with its notorious <a target="_blank" class="" href="https://www.businessinsider.com/weworks-nightmare-ipo">failed bet on WeWork</a> and other lossmaking startups — pointed to gains made across its Vision Funds, its huge investment vehicles with both public and private holdings in tech companies.Gains for its Vision Fund 1, a $98.6 billion investment vehicle launched in 2016 with backing from Abu Dhabi and Saudi Arabia's sovereign wealth funds, totaled $3 billion in the second quarter. It reported strong performances in listed companies in its portfolio, such as Didi Chuxing, a Chinese version of Uber.Navneet Govil, chief financial officer at <a target="_blank" class="" href="https://www.businessinsider.com/inside-softbank-vision-funds-awful-year-former-employees-rival-vcs-2022-12">SoftBank's Vision Funds</a>, told Business Insider that "macro tailwinds" such as US interest rate cuts and stimulus measures in China helped its public portfolio.Vision Fund 2, which made a $500 million investment in OpenAI last month, made a $900 million investment gain in the quarter due to growth in privately held portfolio companies such as Revolut.The UK-based fintech giant, which has won banking licenses in the UK and Mexico in recent months, is now valued at $45 billion. SoftBank invested in Revolt in 2021, when it was worth $33 billion.<h2 id="18d37cf2-1aaf-4020-8453-aa9f8c4b8cca">Tailwinds for IPO activity </h2>Listings in India of companies like Ola Electric have also provided a boost for SoftBank.Govil said SoftBank saw opportunities to realize future gains from IPOs after a period of stagnancy, adding that "rate cuts in the US and elsewhere are constructive developments because they effectively lower the cost of capital and provide a good tailwind for IPO activity."He continued: "We have a late-stage portfolio that's now valued at about $34 billion and some really high-quality companies which are leaders in their respected industries, from ByteDance to PayPay to Fanatics. They will all list when the time is right."Despite the investment gain, Vision Fund 2 has lost an overall total of $21 billion since its inception. The fund has been forced to grapple with a tougher interest rate environment in recent years and a slow <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/recent-upcoming-ipo-processes-stock-market-impact-outlook-reddit-astera-2024-4">IPO market.</a>The results come as SoftBank gears up for a huge investment spree in AI to realize Son's ambitious vision. Last month at SoftBank World — its annual customer event — the founder and CEO said he <a target="_blank" class="" href="https://group.softbank/en/event/earnings_2024q2?utm_source=pressmail&amp;utm_medium=email&amp;utm_campaign=press1112#webcast02">hoped to achieve "artificial superintelligence"</a> within a decade.The 67-year-old Son, who made his original fortune with a timely bet on Alibaba, is hoping to create outsize returns in the generative AI era. He has already bet on buzzy companies such as Perplexity and chip firms trying to rival Nvidia, such as Graphcore and Arm.

SoftBank is betting on AI and an IPO revival after swinging to a $7.7 billion profit

<ul class="summary-list"><li>SoftBank is the first to buy Nvidia's Blackwell chips, the companies said Wednesday.</li><li>The chips will power a supercomputer in Japan.</li></ul>SoftBank Group is the first customer to use Nvidia's <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-ceo-jensen-huang-unveils-next-generation-ai-chip-blackwell-2024-3">Blackwell chips</a>, which will be used to develop an artificial intelligence supercomputer in Japan.The companies plan to build the system — which they call Japan's most powerful supercomputer — in early 2025. SoftBank said it will use the Blackwell-powered computer for generative AI development and as a resource for research institutions and companies across the country."Together we're going to build Japan's largest AI factory," Nvidia's <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-jensen-huang-chipmaker-cofounder-ceo-wealth-net-worth-ai-2023-5">CEO Jensen Huang </a>said at the company's AI summit in Tokyo on Wednesday.The two companies also announced deals to provide AI services on 5G networks and to create an AI marketplace for local compute.The announcement highlights Japan's efforts to reclaim its place as a tech and innovation hub amid <a target="_blank" class="" href="https://asia.nikkei.com/Opinion/Japan-s-cautious-approach-to-AI-may-pay-dividends">lagging AI adoption</a>. AI is an especially big opportunity for Japan as it struggles with an aging society, <a target="_blank" class="" href="https://www.businessinsider.com/japan-struggles-four-day-workweek-culture-overwork-panasonic-worker-shortage-2024-9">labor shortages, and overwork</a>. In a statement, Nvidia said the supercomputer will help accelerate Japan's plans to adopt AI in telecommunications, robotics, and <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-bring-ai-robots-to-hospital-2024-10">healthcare</a>.The partnership comes amid <a target="_blank" class="" href="https://www.businessinsider.com/aws-negotiating-huge-cloud-deal-supply-ibm-with-nvidia-gpus-2024-11">skyrocketing demand</a> for Nvidia's chips as companies and countries scramble to secure supplies to improve their AI capabilities. As one of the few players in this space, Nvidia has a stronghold on anyone looking to accelerate their business or economy using AI models.In August, Nvidia sparked worries that Blackwell chips would be delayed by two to three months, pushing shipments to the first quarter of 2025 instead of later this year. The delay would affect customers including <a target="_blank" rel="" class="" href="https://www.businessinsider.com/nvidia-big-tech-earnings-week-early-winner-ai-microsoft-2024-7">Meta, Microsoft, Google</a>, and smaller cloud firms. On an August earnings call, Huang promised that the company would ship out billions of dollars worth of Blackwell GPUs by the fourth quarter.With the world's biggest companies on Nvidia's customer list, SoftBank's procurement of the first Blackwell platform reflects Huang's relationship with the Japanese investor and its billionaire founder, <a target="_blank" class="" href="https://www.businessinsider.com/masayoshi-son-softbank-gambling-man-lionel-barber-technology-2024-9">Masayoshi Son.</a>Son was an early investor in Jack Ma's Alibaba and acquired European chipmaker Arm for $32 billion in 2016. He's going <a target="_blank" class="" href="https://www.businessinsider.com/softbank-masayoshi-son-jack-ma-bet-ai-2024-2">all-in on AI</a>, with investments across the world — including <a target="_blank" class="" href="https://www.businessinsider.com/softbank-results-profit-masayoshi-son-ai-bets-ipo-vision-fund-2024-11">in OpenAI</a>.During the summit, Huang laughed with and hugged Son. The Nvidia cofounder reminded audiences that SoftBank was once his <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-stock-price-softbank-reportedly-plans-to-sell-its-stake-in-the-chipmaker-2018-12">largest shareholder</a> and that Nvidia would "not be here today" if not for Japan and its first AI supercomputer.Last month, Nvidia hosted a similar<a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-ai-jobs-replace-summit-mumbai-2024-10"> AI summit in Mumbai </a>where Huang met with Indian conglomerate leader Mukesh Ambani to discuss the "extraordinary opportunity" AI poses for India.

SoftBank is Nvidia's first Blackwell chips customer. Here's what they're going to be used for.

<ul class="summary-list"><li>Nvidia CEO Jensen Huang once passed on an opportunity to buy out the chipmaker.</li><li>SoftBank CEO Masayoshi Son offered to lend him the necessary funds in 2016, Huang said.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-jensen-huang-chipmaker-cofounder-ceo-wealth-net-worth-ai-2023-5">Jensen Huang</a> turned down the chance to buy out <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-stock-price-earnings-party-investors-cult-investing-memes-2024-9">Nvidia</a>, the microchip maker that's now the most valuable listed company worth $3.6 trillion.The Nvidia CEO and cofounder revealed the missed opportunity during a conversation with SoftBank CEO and founder <a target="_blank" class="" href="https://www.businessinsider.com/masayoshi-son-softbank-gambling-man-lionel-barber-technology-2024-9">Masayoshi Son</a> at the chip giant's AI summit in Tokyo on Wednesday.Huang recalled that about a decade ago, Son told him the stock market didn't understand Nvidia's value, and his "journey of suffering" would continue for some time because he was "inventing the future." The Japanese tech investor gave him another option, according to a Bloomberg video of the pair's comments.Son "wanted to lend me money to buy Nvidia — all of it," Huang said. "Now I regret not taking you up," he said to Son. "That was a great idea."Son said he made the offer a month after <a target="_blank" class="" href="https://www.businessinsider.com/reports-nvidia-arm-softbank-buys-40-billion-2020-9">SoftBank acquired Arm</a>, a chip designer, for $32 billion in the fall of 2016. Huang said he and Son spoke about merging Nvidia with Arm: "That was a good dream too."Nvidia was trading below $2 on a split-adjusted basis at the time. It has soared more than 74-fold since to about $148 a share, reflecting the AI boom and its microchips' <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/elon-musk-larry-ellison-nvidia-ai-grok-graphics-chips-tech-2023-12">critical role</a> in powering the technology.<div type="image" title="SoftBank CEO Masayoshi Son speaking on stage" height="2867" width="4300" msid="115264582" hostid="261" sizebytes="272906"></div>Huang and Son also spoke about SoftBank building a 4.9% stake in Nvidia <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-undervalued-9-trillion-ai-spend-masayoshi-son-softbank-2024-10">only to sell it</a> for about $4 billion in 2019. All else being equal, that position would have been worth more than $175 billion now.After Huang brought up SoftBank's early exit, Son pretended to cry on his shoulder."It's OK," Huang jokingly consoled him. "We can cry together. Could you imagine if today, you were the largest shareholder?""Oh my God," Son responded.Even if Huang regrets not taking Nvidia private, he's done well by any measure. Nvidia stock has <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-stock-price-blackwell-ai-market-value-costco-jensen-huang-2024-10">soared</a> nearly 200% this year, boosting his net worth to $129 billion at Tuesday's close and <a target="_blank" class="" href="https://www.businessinsider.com/wealth-billionaires-musk-bezos-zuckerberg-net-worth-jensen-huang-waltoans-2024-8">ranking him</a> 11th on the Bloomberg Billionaires Index.Son ranks 130th on the rich list with a $16.6 billion fortune, after growing more than $5 billion richer this year.

Jensen Huang says SoftBank's Masayoshi Son once offered to help him buy out Nvidia — but he passed 

<keyword id="19944037" type="General" weightage="100" keywordseo="SoftBank" source="keywords" meta.keywordsubtype="org" meta.entityname="SoftBank" meta.hostid="261" meta.entityid="SoftBank">SoftBank</keyword>'s Vision Fund is set to make a significant leap into the <keyword id="19904566" type="General" weightage="20" keywordseo="artificial-intelligence" source="keywords">artificial intelligence</keyword> space by investing $500 million in <keyword id="19918823" type="General" weightage="20" keywordseo="OpenAI" source="keywords" meta.keywordsubtype="org" meta.entityname="OpenAI" meta.hostid="261" meta.entityid="OpenAI">OpenAI</keyword>, according to a Reuters report originally attributed to The Information. If this happens, it would be the first major investment from SoftBank in the AI company, led by <keyword id="19918827" type="General" weightage="20" keywordseo="Sam-Altman" source="keywords">Sam Altman</keyword>, and will be a part of OpenAI’s ongoing funding round. OpenAI, which became a household name after launching generative AI chatbot <keyword id="19918826" type="General" weightage="20" keywordseo="ChatGPT" source="keywords">ChatGPT</keyword>, has been at the centre of the AI boom. The company is currently raising $6.5 billion through convertible notes, a financial instrument that allows investors to convert their debt into equity at a later date. This funding round could push OpenAI’s valuation to an impressive $150 billion, though this is before the anticipated SoftBank infusion. However, this valuation is not without challenges. OpenAI is in the process of a corporate restructuring, which is crucial to attracting future investments. Currently, the company operates under a non-profit structure, with a cap on investor profits. But recent reports suggest that OpenAI is working to transition into a for-profit entity, a move that would remove this cap and offer more flexibility to investors. This restructuring is seen as a pivotal moment for the company’s future growth and valuation prospects. The Information also reports that OpenAI is considering granting CEO Sam Altman a 7% equity stake as part of its restructuring efforts to transition into a for-profit company. Interestingly, despite the buzz around this massive funding round, Apple has reportedly decided not to participate, according to earlier reports. Apple’s decision to step back leaves the field open for other major players, with SoftBank now seizing the opportunity. As SoftBank looks to make its first foray into OpenAI’s ecosystem, the investment signals the company’s confidence in the transformative potential of artificial intelligence. If OpenAI succeeds in restructuring, it could unlock a new wave of investment, further pushing the boundaries of AI innovation. (With Reuters inputs)

SoftBank could invest $500 million in OpenAI, new report says

<ul class="summary-list"><li>SoftBank looks set to get a slice of OpenAI.</li><li>Reports suggest the Japanese conglomerate will invest $500 million into the ChatGPT maker.</li></ul>If everything goes to plan, OpenAI will end the week as a $150 billion giant at the center of the AI industry. It will also end the week with another reputation: a new piece in the grand puzzle being solved by <a target="_blank" class="" href="https://www.businessinsider.com/masayoshi-son-softbank-gambling-man-lionel-barber-technology-2024-9">Masayoshi Son.</a>The billionaire founder of Japanese conglomerate SoftBank looks set to add Sam Altman's startup to his sprawling portfolio following reports that his company will <a target="_blank" href="https://affiliate.insider.com?h=6174e992fbcba77742faa597fc56a9d63cf9c5a128b9fc27f6eee13e7a42ce5b&amp;postID=66fd5577e5b540830041020e&amp;postSlug=openai-softbank-investment-ai-vision-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fsoftbank-to-invest-500-million-in-openai%3Foffer%3Drtsu-engagement-24%26utm_campaign%3DRTSU%253A%2BSoftBank%2Bto%2BIn%26utm_content%3D5445%26utm_medium%3Demail%26utm_source%3Dcio%26utm_term%3D3703">make a massive $500 million bet</a> on the ChatGPT maker.The funding, part of a $6.5 billion investment round, which Bloomberg reported on Wednesday <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-02/openai-has-closed-new-funding-round-raising-over-6-5-billion">had closed</a>, will cap a new era for Sam Altman's company. It follows a tumultuous few months in which a string of <a target="_blank" class="" href="https://www.businessinsider.com/openai-execs-mira-murati-leaving-restructuring-for-profit-sam-altman-2024-9">high-profile departures</a> has brought its status as Silicon Valley's hottest AI startup into question.But for its new expected backer from Tokyo, the funding is about something much bigger.Son, a technology evangelist who has made and lost billions of dollars since founding SoftBank as a software distribution business in 1981, talked up the advancement of AI as his life's mission long before ChatGPT arrived in late 2022. He doubled down on this sentiment at his company's annual meeting in June, telling shareholders that <a target="_blank" href="https://group.softbank/en/ir/investors/shareholders/2024">"this is what I was born to do."</a>So, while a $500 million bet will give SoftBank a stake in one of Silicon Valley's buzziest companies, it is worth considering how it fits into the AI picture of tech's widest-eyed visionary.<h2 id="cd880916-0653-4073-a89e-09b9bd7bb3d3">Masayoshi Son's AI vision is ambitious</h2><div type="image" title="OpenAI CEO Sam Altman." height="2392" width="3600" msid="113883429" hostid="261" sizebytes="163328"></div>To understand<a target="_blank" class="" href="https://www.businessinsider.com/softbank-masayoshi-son-jack-ma-bet-ai-2024-2"> Son's grand AI ambitions</a>, it's worth first zooming out to see how SoftBank currently maps out AI investment opportunities.In a presentation to investors this year, seen by Business Insider, SoftBank divided its interests in AI into three distinct layers. First, there's the application layer involving "the consumer 'super apps' used every day," like <a target="_blank" class="" href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">ChatGPT</a>. Then, there's the infrastructure layer, which is all about tools to gather and analyze data. Finally, there's a hardware layer, which includes chips, data centers, and robotics.In OpenAI, SoftBank looks like it'll finally have a major investment in a foundation model AI company — a company building the large language models sitting behind consumer-facing apps like ChatGPT and <a target="_blank" class="" href="https://www.businessinsider.com/pharma-cio-cancelled-microsoft-copilot-ai-tool-2024-7">Microsoft Copilot</a>. Think of it as floating somewhere between layers one and two.SoftBank has made a previous effort to get ahead with investments in the first two layers through its first <a target="_blank" class="" href="https://www.businessinsider.com/inside-softbank-vision-funds-awful-year-former-employees-rival-vcs-2022-12">Vision Fund, a $100 billion investment vehicle launched in 2016</a> with backing from Middle Eastern sovereign wealth funds, and its second Vision Fund launched in 2019.The second fund, set to back OpenAI, invested in <a target="_blank" class="" href="https://www.businessinsider.com/perplexity-ai-forbes-wired-explained-2024-6">AI search engine startup Perplexity</a> at a $3 billion valuation in June. Judging by Son's previous comments, the hundreds of companies backed by the funds will eventually find a way to complement one another. That hasn't gone completely to plan.Performance across the funds has wavered. As of June, Vision Fund 1's gains were $21.7 billion, while Vision Fund 2 losses totaled $22.9 billion. Most of the investments also came before the generative AI boom that started after ChatGPT's launch, meaning billions of dollars of investment has gone to companies not exactly tailored to the tech of the moment.So it's become clear that Son's focus has fallen on the other part of his AI investment stack.In September 2023, Son took a big step forward in the hardware layer by successfully relisting Arm. The chip designer, which SoftBank bought for $32 billion in 2016, has positioned itself as a key player in the AI space, helping it reach a market capitalization of over $142 billion.<div type="image" title="Arm Holdings CEO Rene Haas" height="683" width="1024" msid="113883430" hostid="261" sizebytes="46262"></div>It explains in part why, in February, a report emerged suggesting Son had been busy courting investors in the Middle East to raise up to $100 billion for a venture that would help him go even bigger on chips.<a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-06-21/softbank-s-son-aims-to-create-super-ai-in-new-investment-drive">According to Bloomberg</a>, the SoftBank founder has codenamed the secretive project Izanagi — the deity of creation in Japanese mythology. He reportedly picked that name, in part, because it contains the initials for artificial general intelligence, or AGI, a form of AI that could rival human intelligence or even surpass it.What such a chip venture would look like is unclear. Son could look to compete on chip design by building a venture to rival Nvidia, the $2.9 trillion chip giant that his company lost huge gains on after dumping its near 5% stake back in 2019. The venture could also support plans for Arm, which SoftBank retains a 90% stake in, to get into its own AI-specialized chip venture in 2025, per <a target="_blank" class="" href="https://asia.nikkei.com/Business/Technology/SoftBank-s-Arm-plans-to-launch-AI-chips-in-2025">Nikkei</a>.In July, the company acquired <a target="_blank" class="" href="https://www.businessinsider.com/graphcore-posts-bigger-losses-2022-and-needs-cash-2023-10">Nvidia rival Graphcore</a> in a deal that the startup's CEO Nigel Toon said would make it "part of the delivery behind a very grand vision."Alternatively, he could be looking at getting into the manufacturing and data center arena. A report from <a target="_blank" class="" href="https://www.wsj.com/tech/ai/sam-altman-seeks-trillions-of-dollars-to-reshape-business-of-chips-and-ai-89ab3db0">The Wall Street Journal in February</a> suggested OpenAI's Altman had met with Son and others to discuss ambitious plans to build new chip manufacturing plants, data centers, and more to support AI's advancement.Of course, like OpenAI, Son's ultimate ambition in AI is to realize <a target="_blank" class="" href="https://www.businessinsider.com/artificial-general-intelligence-development-andrew-ng-openai-microsoft-meta-google-2024-9">AGI</a>.In a new book on Son, former Financial Times editor and author Lionel Barber recalls a two-hour conversation he had with the SoftBank founder in late 2023 at the company's Tokyo headquarters. According to Barber, Son said he'd like to be remembered as "one of the foundation stones of AGI.""I may not be the full story of AGI, but one of the foundation stones of AGI," Son is reported to have said. "AGI is the only thing I care about."But while OpenAI races to build models that might <a target="_blank" class="" href="https://www.businessinsider.com/openai-o1-ai-model-agi-2024-9">inch humanity closer to AGI</a>, it's clear that Son wants to get his hands on all the pieces needed to help it achieve that goal.

OpenAI is just one piece of the puzzle in SoftBank's grand vision for AI

<ul class="summary-list"><li>The CEO of Softbank says Nvidia stock is undervalued despite its huge valuation.</li><li>Maysoshi Son predicts AI spending will boost Nvidia's chip business significantly over the next decade.</li></ul>Even after <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia's</a> ascent to the second-largest company in the world, Softbank CEO Masayoshi Son says he thinks the stock is still "undervalued."Son said <a target="_blank" class="" href="https://www.youtube.com/watch?v=Zx7HLytya-w">in an interview</a> on Monday that the ongoing spending trends in artificial intelligence will only accelerate in the years ahead, benefiting Nvidia and its GPU chip business, which has been the driving force behind most AI advancements."I think Nvidia is undervalued because the future is much bigger," Son said at the Future Investment Initiative conference.Son's bullish view on AI stems from his belief that artificial "superintelligence" will be achieved by 2035.Whereas artificial general intelligence is broadly viewed as an AI system that is as smart as a human, Son defined artificial superintelligence as an AI system that is 10,000 times more powerful than the human brain.Son said that to achieve that level of AI, it will require upwards of 200 million GPU chips and $9 trillion in total capex spending by companies. According to Son, that could be a bargain when considering the immense profits that could be generated from a potential artificial superintelligence."I say it's still very reasonable capex. $9 trillion is not too big, maybe too small," Son said.The famed investor calculated that if artificial superintelligence replaces just 5% of GDP in 10 years, it has the potential to deliver as much as $4 trillion in profits annually.Softbank has sharpened its focus on investing in AI companies, recently contributing $500 million to OpenAI's funding round.The Japan-based investment company also owns about 90% of <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/arm-stock">Arm Holdings</a>, which is planning to launch its own AI chips next year.Son's bullishness on AI and Nvidia means he also has some regrets. Softbank previously owned a 4.9% stake in Nvidia, but sold it in 2019 for about $4 billion. That stake would be worth more than $160 billion today."I had to tearfully sell the shares," Son said earlier this year, calling Nvidia "the fish that got away."

Nvidia stock is undervalued because AI companies need to spend another $9 trillion to achieve superintelligence, Softbank CEO says

<ul class="summary-list"><li>SoftBank-backed glassmaker <keyword id="21250775" type="General" weightage="20" keywordseo="View" source="keywords" meta.keywordsubtype="org" meta.entityname="View" meta.hostid="261" meta.entityid="View">View</keyword> filed for <keyword id="19903649" type="General" weightage="20" keywordseo="bankruptcy" source="keywords">bankruptcy</keyword> in April, 3 years after its SPAC.</li><li><keyword id="23006643" type="General" weightage="100" keywordseo="CEO-Rao-Mulpuri" source="keywords">CEO Rao Mulpuri</keyword> has stepped down from View which was taken private by two <keyword id="19900618" type="General" weightage="20" keywordseo="investors" source="keywords">investors</keyword>.</li></ul>Five months after glassmaker View <a target="_blank" href="https://www.businessinsider.com/softbank-backed-view-files-bankruptcy-spac-struggles-2024-4">filed for bankruptcy</a>, CEO Rao Mulpuri has stepped down. Under his tenure, View raised $1.1 billion from <keyword id="19944037" type="General" weightage="20" keywordseo="SoftBank" source="keywords" meta.keywordsubtype="org" meta.entityname="SoftBank" meta.hostid="261" meta.entityid="SoftBank">SoftBank</keyword> in 2018 and went public in 2021. It struggled as a public company and <a target="_blank" href="https://www.businessinsider.com/view-inc-rao-mulpuri-spac-smart-glass-2022-6">ran low on cash</a> several times before declaring bankruptcy in April. Mulpuri announced his departure on Thursday night in a memo to employees which he also posted on <a target="_blank" href="https://www.linkedin.com/feed/update/urn:li:activity:7235077660702294016/">LinkedIn</a>. "After 15 incredible years, I have decided it's time to leave View Inc. What a ride it has been! A journey of a lifetime, filled with many ups and downs, but never a dull moment," he wrote. View makes eco-friendly windows that darken when it's sunny, reducing energy costs for air conditioning. The Milpitas, California-based firm filed for Chapter 11 bankruptcy to reorganize without liquidating all its assets. Two of View's longtime investors Cantor Fitzgerald and real estate firm RXR have taken the company private. Cantor sponsored the special purpose acquisition company that merged with View to take it public, raising $815 million. On August 22, the financial-services firm agreed to a $12 million settlement to end a lawsuit by SPAC investors who alleged they were misled. Cantor did not reply to a request for comment in time for publication. According to a separate memo sent to employees Friday morning, two board members will run View as co-CEOs: Joshua Spellman, chief of staff at Cantor, and Andrew Min, a senior vice president at RXR. Mulpuri has led View since 2008, replacing one of the firm's cofounders. Previously he led Japanese semiconductor manufacturer Novellus Systems. He is known for his magic touch with investors, managing to raise cash for View multiple times when funds ran low, including from the now-bankrupt financier Greensill Capital. "He's always been able to pull a rabbit out of a hat when it comes to procuring more money for the company," one banker familiar with View previously told Business Insider. In 2022, BI spoke with 29 former and current <a target="_blank" href="https://www.businessinsider.com/softbank-view-inc-rao-mulpuri-spac-investigation-2022-6?r=VIEWinc-teaser&amp;utm_medium=referral&amp;utm_source=yahoo.com">View employees</a>. They described a culture of micromanagement and said they were afraid of being fired. Mulpuri obsessively monitored tweets and LinkedIn posts about View and asked people to write positive reviews of the company on Glassdoor, multiple former employees said. Two former employees in the corporate office said View staff called him "Chairman Rao," an inside joke rhyming his name with the Chinese communist leader Mao Zedong. "If you didn't agree with the company's potential or the rosy picture, or how we were going to revolutionize and change the world, you were kept on the outside," one of the employees said. Mulpuri did not comment in time for publication. In his note, he hinted that he will return to the startup industry. He would be "back in the saddle" building things "sooner than later," he wrote. "Stay tuned..." Correction: August 30, 2024 — An earlier version of this story misdescribed one of View's investors. Cantor Fitzgerald is a financial-services firm, not a law firm.

View CEO Rao Mulpuri, who saw the glassmaker go from investor darling to declaring bankruptcy, has resigned

<keyword id="19981453" type="General" weightage="20" keywordseo="Brainbees-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Brainbees Solutions" meta.hostid="261" meta.entityid="Brainbees Solutions">Brainbees Solutions</keyword> Ltd, the parent firm of online e-commerce platform <keyword id="19939174" type="General" weightage="20" keywordseo="FirstCry" source="keywords" meta.keywordsubtype="org" meta.entityname="FirstCry" meta.hostid="261" meta.entityid="FirstCry">FirstCry</keyword>, has received <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">Sebi</keyword>'s approval to raise funds through an initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>), an update with the markets regulator showed on Monday. Apart from this, three more companies -- SaaS platform Unicommerce eSolutions, Maharashtra-based Gala Precision Engineering and Interarch Building Products -- obtained the regulator's nod to float the initial share sale. These companies -- who filed their preliminary IPO papers with Sebi between January and May 2024 -- obtained the regulator's observations during June 25-28, according to the update. In Sebi's parlance, obtaining its observations means its approval to float the public issue. According to the fresh draft red herring prospectus (DRHP), Pune-based Brainbees Solutions' proposed IPO is a combination of a fresh issue of equity shares, aggregating up to Rs 1,816 crore and an offer for sale (OFS) of up to 5.44 crore equity shares by existing shareholders. Under the OFS, SVF Frog, a Cayman Islands-registered entity of <keyword id="19944037" type="General" weightage="20" keywordseo="Softbank" source="keywords" meta.keywordsubtype="org" meta.entityname="Softbank" meta.hostid="261" meta.entityid="Softbank">Softbank</keyword>, will sell 2.03 crore equity shares of Brainbees Solutions Ltd, and automaker Mahindra &amp; Mahindra (M&amp;M) will offload 28.06 lakh shares of the company. Currently, Softbank holds a 25.55 per cent stake in Brainbees Solutions, and M&amp;M owns a 10.98 per cent stake in the multi-brand retailing platform. Apart from Softbank and M&amp;M, other entities selling shares in the OFS are PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments, Valiant Mauritius, TIMF Holdings, Think India Opportunities Fund and Schroders Capital. Brainbees Solutions re-filed preliminary papers with Sebi in May after the company was directed by the regulator to re-file the draft papers, citing insufficient disclosure of key performance indicators (KPIs), market sources had said. The company's key performance indicators include its number of orders, average order value and annual transacting customers. Unicommerce's issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore equity shares by the selling shareholders. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 1.14 crore shares, and B2 Capital Partners will be selling up to 22 lakh shares. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Shares of these four companies will be listed on the BSE and NSE. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

FirstCry's parent firm Brainbees Solutions gets Sebi's go ahead to float IPO

Softbank-backed <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword> is set to refile its much-awaited <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> as the global travel tech player is close to finalising its refinancing plans to raise up to USD 450 million via sale of dollar bonds, sources said. JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said. In preparation for the refinancing, OYO has already moved its application with markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="153" meta.entityid="SEBI">SEBI</keyword> to withdraw its current draft red herring prospectus (<keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword>). The company intends to refile an updated version of the DRHP, after the bond issuance. Oravel Stays Ltd, OYO's parent company, had in November prepaid a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process. The buyback involved repurchasing 30 per cent of its outstanding Term Loan B of USD 660 million. The move brought down its outstanding loan amount to around USD 450 million. A source closely involved in the company's IPO plans told PTI, "The refinancing will result in material changes to OYO's financial statements. Hence as per existing regulations, it will need to revise its filings with the regulator". "Since the decision for refinancing is at an advanced stage, it doesn't make sense to continue pursuing IPO approval with the current financials. So it's prudent to withdraw the current application," he added. The refinancing will extend the repayment timeline to five years -- versus the repayment of the remaining TLB due in 2026 -- the source said. The bond issuance would significantly lower the current effective interest rate of 14 per cent on its existing USD 450 million Term Loan B (TLB) facility. "The refinancing is expected to result in annual interest savings of USD 8-10 million (Rs 66.4-83 crore) in the first year, after accounting for the costs associated with the bond issuance. The company anticipates annual savings of USD 15-17 million (Rs 124.5 -141.1 crore) thereafter, almost all of which would get added to its net profits. Post the debt refinancing, the company is open to contemplating an equity round, to reaffirm investor confidence before a public listing to fortify its financial strength," the source said. In September 2021, OYO had filed preliminary documents with the Securities and Exchange Board of India (Sebi) for a Rs 8,430 crore IPO. The launching of the IPO was delayed due to the then volatile market conditions making the company prepare to settle for a lower valuation at around USD 4-6 billion instead of the USD 11 billion it was targeting initially. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank">iQOO Z9x 5G with 120Hz display, 6000mAh launched starting at ₹12,999</a><a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank">Woman loses ₹54 lakh in work-from-home scam! Here's what it is and how to protect yourself</a>

OYO withdraws DRHP, to refile IPO post refinancing: Sources

<ul class="summary-list"><li>SoftBank CEO Masayoshi Son's bet on AI seems to be paying off.</li><li>The Japanese conglomerate posted a $1.5 billion profit in its latest quarter.</li></ul><a target="_blank" href="https://www.businessinsider.com/softbank-ceo-masayoshi-son-crisis-tears-for-days-ai-2023-6">Masayoshi Son</a> once branded those dismissive of artificial intelligence as <a target="_blank" href="https://www.businessinsider.com/softbank-ceo-masayoshi-son-on-ai-doubters-being-left-behind-2023-10">a bunch of "goldfish."</a> Stuck in a bowl, they'd watch as the world around them finds new freedoms thanks to the technology.It's a bold view; but it's one that's starting to look like reality for the Japanese billionaire.<a target="_blank" href="https://www.businessinsider.com/softbank-masayoshi-son-ai-investor-presentation-2023-6">SoftBank</a>, the Tokyo conglomerate Son founded during Japan's boom years in the early 1980s, signaled that its all-in bet on AI was starting to pay off after posting its latest earnings on Monday.Despite an annual net loss of about $1.46 billion, the company posted a profit of about $1.48 billion for the first three months of 2024, capitalizing on profit momentum generated in the previous quarter.A key driver of SoftBank's gains over successive quarters has come from its stake in Arm Holdings.The UK chip firm, which SoftBank acquired in 2016 for $32 billion, has seen its stock price <a target="_blank" href="https://www.businessinsider.com/arm-ipo-ai-boom-chipmaker-softbank-2023-9">soar</a> since its September IPO as investors buy in to its fresh focus on AI.Arm, whose chip design is used by companies such as <a target="_blank" href="https://www.businessinsider.com/apple-siri-generative-ai-improvements-iphone-report-2024-5">Apple</a>, is looking to deploy its tech with AI companies, particularly those that service the highly intensive computing needs of generative-AI operators.<div type="image" title="Arm Holdings CEO Rene Haas" height="3458" width="5186" msid="111691665" hostid="261" sizebytes="387960"></div>SoftBank has benefited from this because it has a 90% stake in Arm, which has doubled in value to over $110 billion since the listing."Arm is central to our AI shift," Yoshimitsu Goto, SoftBank's executive corporate officer of finance, said on Monday. Soft Bank's net-asset value jumped 45% from its last quarter to $178.3 billion — driven by Arm's soaring share price.For Son, the profits could offer reassurance that he's on the right track with AI after years of hit-and-miss investments in other technologies through startup betting.Arguably the biggest investment flop for Son came from his <a target="_blank" href="https://www.businessinsider.com/softbanks-losses-on-wework-total-15-billion-2023-11">backing of WeWork</a>, the real-estate startup that filed for bankruptcy in November after once being valued at $47 billion.SoftBank has also had mixed success with a duo of venture-capital funds run out of London called <a target="_blank" href="https://www.businessinsider.com/inside-softbank-vision-funds-awful-year-former-employees-rival-vcs-2022-12">Vision Funds</a>, which have sprayed cash at startups globally since 2017. Some of the funds' bets, such as those on pizza-robot and dog-walking startups, have since imploded.Son's critics have questioned whether the billionaire could ever replicate the success he enjoyed from a $20 million investment in Alibaba in 1999 that's <a target="_blank" href="https://www.businessinsider.com/softbank-masayoshi-son-jack-ma-bet-ai-2024-2">made him $72 billion</a>.But as the appetite for Arm's AI activities shows, SoftBank has room to grow in the face of this latest boom. Son seems aware of this, with the company selling down several Vision Fund investments in recent months to plow fresh cash into AI opportunities.There are still risks, however, as AI euphoria since ChatGPT's introduction in November 2022 has sent the stocks of <a target="_blank" href="https://www.businessinsider.com/nvidia-impact-q1-earnings-season-ai-nvda-stock-price-capex-2024-5">companies like Nvidia</a> to dizzying heights, leaving investors to wonder if a downturn might be around the corner.With about $40 billion in cash on hand at the end of March, Son should be ready to step up his search for AI's next big thing. If he's able to make the right bets, AI could pay off handsomely for him in the long term.

Looks like Masayoshi Son's plan to go all in on AI is starting to pay off for SoftBank

<ul><li><keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> said that it will work with third party banks after RBI’s restrictions on its payments bank.</li><li>Brokerages fear that lending partners might re-evaluate their engagement after the RBI move.</li><li>Analysts see an immediate impact on consumer payments business, with spillovers on aggregation and lending.</li><li>Retail, and MF holdings in the company have gone up in the last one year, as foreign investor holdings reduced. </li></ul>The restrictions placed on Paytm Payments Banks (PPBL) by the regulator has triggered a sharp selloff in the stock, which is locked in a lower circuit for the second day straight. The stock crashed by 20% yet again on Friday morning to ₹487, even as the benchmark indices zoomed ahead. The Reserve Bank Of India has ordered its payments bank subsidiary to stop accepting fresh deposits in its accounts or popular wallets from March onwards on Wednesday. PayTM has a 49% stake in Paytm Payment Bank whose future is now uncertain. “Our key concern, unlike previous directives, is that the RBI has not, so far, made any comments around potential steps towards a resolution, suggesting to us that the directive could stay in place for the foreseeable future,” said Goldman Sachs. Will third-party banks come on-board? Paytm assured the investors that it does impact user deposits in savings accounts, wallets, FASTags etc. "Your favourite app is working, will keep working beyond 29 February as usual. For every challenge, there is a solution and we are sincerely committed to serve our nation in full compliance,” said <keyword id="20427449" type="General" weightage="20" keywordseo="paytm-founder" source="keywords">Paytm Founder</keyword> <keyword id="20427448" type="General" weightage="20" keywordseo="shri-vijay-shekhar" source="keywords">Shri Vijay Shekhar</keyword> Sharma in a tweet. The company also said that they have started working with various banks on various payment products, but the markets remained spooked. With RBI restrictions at play, analysts believe that it won’t be easy to bring in new banks. “While Paytm expects a minimal impact on its lending business, we differ. We think that some of the lending partners might re-evaluate the extent of their engagement with the company given the restrictions placed by RBI on PPBL. Paytm has a significant dependency on PPBL for nodal accounts used for merchant payment settlements,” said Axis Capital. The transition from its payments bank to third party banks won’t be so easy either. As much as 34% of all payments for Paytm has been channelized through PPBL in FY23. It has been running as an integrated business for a long time now. Even if they bring in third-party banks easily, it will face challenges of shifting the nodal accounts to other banks. It will also have to replace the QR codes, powered by PPBL, for offline merchants Analysts see an immediate earnings impact on its payments business. “We have now assumed a 10% decline in its Consumer Payments business (21% of total revenue) in FY25 and thus would impact the overall revenue impact of 4% cut in our overall revenue estimates for FY25 and FY26 respectively,” said Dolat Capital. They also fear long-reaching consequences, with a spillover impact on other businesses such like payment aggregation and lending. Lending is one of its fastest growing businesses, and disbursements could be impacted. Retail investors, MFs increased holdings in the last one year PayTM shareholding pattern <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Foreign Institutions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">63.7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">72.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail &amp; other investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30.87% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.41% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mutual Funds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.99% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.73% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other domestic institutions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.41% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.06% </td></tr></tbody><tbody></tbody></table>Source: Groww The Paytm stock has been on a rollercoaster ride in the last one year, with stock price hitting a high of ₹998 last October. Investors like Alibaba, <keyword id="19944037" type="General" weightage="20" keywordseo="softbank" source="keywords">Softbank</keyword> and Morgan Stanley Investment Management have pared their holdings in the company too. Investors sold off as much as ₹5,880 crore in <a href="https://www.businessinsider.in/stock-market/block-deal-bonanza-for-investors-as-bull-run-continues/articleshow/106024422.cms">four large block deals in 2023</a>. Consequently, on a year on year basis, the foreign investor holdings in the tech major came down to 63.7% as of December 2023 end. They stood at 72.8% as of December 2022. Yet, they continue to remain the largest shareholders in the company with investors like <keyword id="20427450" type="General" weightage="20" keywordseo="saif-partners" source="keywords">SAIF Partners</keyword>, Resilient Asset Management B V and others holding significant stake in the company. Domestic and retail investor holdings in the company had gone up in the same period. Mutual funds and other domestic institutional holdings almost doubled in the last one year to 5.39% as compared to 1.79% in the same time a year ago. Nippon Mutual Funds and Mirae Mutual Funds hold 1.05% and 2.51%, respectively.

Paytm stock searches for a new bottom despite assurances by the management

Integrated logistics provider <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> on Friday saw 2.51 per cent of its shares worth Rs 747 crore exchanging hands in a block deal, with Japanese investment giant <keyword id="163404" type="General" weightage="20" keywordseo="softbank" source="Orion">SoftBank</keyword> as likely seller. Around 1.8 crore shares of Delhivery changed hands at Rs 403 per share. Moneycontrol was on Thursday first to report about Softbank's move to sell some of its stake in the logistics firm in a block deal valued at $150 million. Before the block sale, SoftBank, via its subsidiary Svf Doorbell (Cayman), had a 14.6 per cent stake in the logistics firm. The Delhivery stock was hovering around Rs 402.5 in early trade. Over the past few months, Softbank has divested its stake in <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and Policybazaar's parent company PB Fintech. Logistics services provider Delhivery's net loss in the September quarter (Q3) of the current financial year was more than halved to Rs 103 crore, while revenue increased by 8 per cent to Rs 1,942 crore, despite higher inflation and fund crunch. The company reported a loss of Rs 254 crore and revenue of Rs 1,796 crore in the same quarter of the previous year. Last month, nearly 9.28 crore equity shares of online food delivery platform Zomato worth Rs 1,040 crore were offloaded in a bulk deal, likely by SoftBank. SoftBank, via its affiliate SVF Growth (Singapore) Pte, likely sold 1.09 per cent stake in Zomato in the bulk deal. Shares exchanged hands at an average price of Rs 111.20. SoftBank held a 2.17 per cent stake in Zomato (by September 2023 quarter).

You Searched For "Softbank" and got 13 results

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