Monday, 25 September 2023

Is SoftBank really going ‘on the offense’ with AI?

Plus, last week's 10 largest U.S. funding deals

September 25, 2023

Hi, Agen. Three months ago, SoftBank CEO Masayoshi Son told investors the firm would again shift from “defense mode” as it looked to be a leader in the AI revolution. Has it actually been doing that? We dive into Crunchbase numbers to see how SoftBank — now extra flush with cash after Arm Holdings’ IPO earlier this month — and its famed Vision Fund are actually investing in AI. Plus, last week’s 10 largest U.S. funding deals also show that it’s not just SoftBank — many investors are still gaga for AI.

🤖 How real is SoftBank’s AI offensive?

SoftBank has had some big hits — Arm, Uber and Slack come to mind — but major misses (WeWork, Zume, Katerra, the list goes on …) as well. So one could be forgiven for being a little skeptical about its latest pronouncement about the AI revolution. We look at where SoftBank and its Vision Fund have actually been placing bets on artificial intelligence.

Related Crunchbase Pro list: SoftBank Vision Fund Investments

🏅 Top 10 deals: Another huge week for AI

We know, we know. You’re getting tired of reading about AI. But investors didn’t seem to get the memo: Last week, three of the top four largest U.S. startup funding deals went to companies doing things with artificial intelligence, including a $280 million round to an AI-powered mapping company. The deal was led by, you guessed it, SoftBank.

✂️ Are layoffs leveling off?

At least one bigger name — Roblox — landed on our Tech Layoffs Tracker last week, but all told, we saw fewer than 100 confirmed U.S. tech jobs cut. Is it just a lull, or a sign that the brutal job cuts that have hit the sector this year are finally waning?

🔐 Cisco’s Splunk deal highlights growing interest in cyber + AI

Cisco’s $28 billion offer last week to buy Splunk is the largest enterprise software deal this year, beating Silver Lake’s $12.5 billion deal to take Qualtrics private in March. It also tops off what has been weeks of investor interest in the role AI will play in cybersecurity and vice versa. We look at other large deals at the intersection of AI and cybersecurity and what that tells us about the market.

Related Crunchbase Pro list: Funding To VC-Backed AI Cybersecurity Startups

⛰️ What’s not high in Colorado? Funding

Not that long ago, Colorado was drawing thousands of techies from the big startup hubs, especially those happy to trade coastal life for snowy peaks and slightly more affordable housing. Venture funding followed. But an analysis of Crunchbase data shows that Colorado’s venture funding levels have fallen 60% since last year amid general population stagnation in the Centennial State.

Related Crunchbase Pro list: Colorado Startup Funding

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