Explosion! Masayoshi Son denounces AI bubble theory as blasphemy, announces mass production of robots, directly challenging Elon Musk: Space data centers have no future

SoftBank founder Masayoshi Son delivered two consecutive speeches at the annual shareholders' meeting, firing on all cylinders. He dismissed market concerns about an AI bubble, calling such claims a "blasphemy against AI," and announced that SoftBank has launched mass production of robots. At the same time, he set a net asset value target of 100 trillion yen for the next ten years, planning to work until age 70 to achieve "artificial superintelligence."

Son admitted that some shareholders are "half skeptical" about SoftBank's valuation, while he himself "believes 100%." Currently, SoftBank's market value is about 37 trillion yen, significantly discounted from its total assets of 74 trillion yen. He compared SoftBank to "a goose laying golden eggs," and asked, "How much longer do I have to work to make you believe this goose is doing very well?"

Regarding external concerns about an AI bubble, Son firmly stated, "If you say this is a bubble, that is blasphemy against AI. It has just begun, and its potential will be unleashed." He also disclosed that SoftBank has started robot manufacturing at its "physical AI factory," claiming to be "the world's first company to achieve large-scale robot manufacturing," but did not reveal further details.

Son believes that the current industry bottleneck has shifted from model design to chip, power, and data center capacity. This aligns with SoftBank's strategic bet to become a leading robotics company. In terms of core assets, Arm has decided to produce chips independently, with its valuation rising to about $391 billion. Son said that Arm's valuation has "more than ten times" growth potential. SoftBank owns nearly 90% of Arm.

Regarding its investment in Intel, Son defended that the initial $2 billion investment has greatly appreciated, due to the adjustment of U.S. national security priorities and new collaborations between Intel, Nvidia, and Apple. "The U.S. has no choice but to strengthen Intel."

On data center deployment, Son revealed that SoftBank is finalizing a letter of intent for a data center in Ohio. The client has not been disclosed, but the profit is "huge." Projects are also being prepared in Texas, France, Japan, and other locations. In Japan, SoftBank is a key candidate for Tokyo Electric Power to introduce external capital to build AI data centers, but Son warned that Japan's regulatory process is lengthy and difficult to keep pace with AI development.

The "Stargate" AI infrastructure project plans to expand further, involving SoftBank, OpenAI, Oracle, and others. It will grow in tandem with global AI infrastructure demand, but no further details were provided.

Son directly responded to Elon Musk's push for orbital data centers. He acknowledged that space data centers could reduce electricity costs, but electricity expenses account for a very small part of operating costs, and launch, maintenance, and communication delays would offset the savings. He called Musk an "outstanding change-maker," but SoftBank will focus on "powerful" data center capacity on Earth. "The competition in the next few years is far more critical than what will happen in ten years."

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