SoftBank Makes $146M Bet on AI Firm Qraft

#artificialintelligence 

SoftBank is investing $146 million in the South Korean artificial intelligence (AI) company Qraft Technologies Inc. to help it expand into the U.S. As The Wall Street Journal (WSJ) reported Monday (Jan. The companies declined to disclose Qraft's valuation, per the WSJ. SoftBank, based in Tokyo, is one of the largest tech investors in the world, managing a portfolio in excess of $100 billion. Qraft has 50 employees, most of whom work on the company's AI project and who own about a third of the business, with outside investors controlling the rest. "SoftBank [now] makes up a large portion of that," Robert Nestor, the U.S. CEO of Qraft., told the WSJ.