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Office occupancy startup WeWork is raising a further $1 billion in convertible debt from one of its existing investors, SoftBank. The unusual mechanism gives WeWork an immediate cash injection, as it continues to funnel money into expanding its shared office business globally.
SoftBank and its $100 billion Vision Fund have made a slew of investments in tech firms around the world. So far, it has bought a 20% stake in GM's Cruise autonomous driving unit and smaller investments in Uber, Nvidia, WeWork, and more.
A company that makes a crazy camera with 16 lenses just got $121 million from SoftBank to build eyes for self-driving cars
Light's CEO tells Business Insider that the company is moving aggressively into autonomous vehicles, encouraged by Masa Son.
GM’s $2 billion deal with a Japanese tech giant may give the automaker a big advantage in the race to develop self-driving cars
The deal has given GM equity value that it can use to attract new talent. Cruise has grown dramatically since GM bought it in 2016; what started as a 40-employee startup now has 800 people working it. GM President Dan Ammann said that another leg of significant growth is on the way.
The largest venture-capital fund in Silicon Valley history has raised a whopping $6 billion to take on global competitors
Sequoia Capital has raised $6 billion to take on SoftBank. It's the largest fund in Silicon Valley's history.
Masayoshi Son, the SoftBank CEO with $100 billion to blow, likes to quote Yoda and ‘feel the force’ when picking deals
According to a Financial Times profile, Son is fond of quoting 'Star Wars' Jedi master Yoda and likes to 'feel the force' while assessing whether to invest in startups.
Rajeev Misra, the CEO of SoftBank's $100 billion Vision Fund, said he personally spent six months persuading Uber's board and shareholders to take his money.
Don’t fear my robots, says the Boston Dynamics founder who makes machines that drive the internet wild
Boston Dynamics has sent the internet into meltdown by creating robot dogs that can open doors and a back-flipping humanoid. The machines have provoked quips about it being the end of human civilisation, but CEO Marc Raibert sought to reassure people.
GM is surging after Japan’s SoftBank announced a $2.25 billion investment in its self-driving car unit
The investment will come in two stages of $900 million immediately and another $1.35 billion once Cruise’s autonomous vehicles are ready for commercial deployment, GM said. It will also invest $1.1 billion of its own money in cruise when the deal closes.
The SoftBank investment will involve two phases: a $900 million initial funding followed by a $1.35 billion round. Ultimately, SoftBack will take a nearly 20% equity share in Cruise, which has been operating as a stand-alone GM unit.