SoftBank Group to Form Joint Venture With U.S. Healthcare Firm Tempus AI
By Megumi Fujikawa
TOKYO--SoftBank Group will introduce a medical service backed by artificial intelligence in Japan via its new joint venture with U.S. healthcare firm Tempus AI.
The new company will analyze patients' data, such as genetic information and other medical records, using Tempus's artificial intelligence and offer doctors options for treatments, SoftBank said.
"It is definitely beneficial to reduce people's sadness," SoftBank Group Chief Executive Masayoshi Son said at a news conference Thursday. Son said he wanted to start offering the service in Japan by the end of this year.
The joint venture will be capitalized at 30 billion yen, equivalent to $187 million. SoftBank and Tempus will each own a 50% stake.
Chicago-based Tempus went public on the Nasdaq market earlier this month, with a market capitalization of over $4 billion as of Wednesday's close.
This was Son's first major AI announcement after he said at an annual shareholder meeting last week that the company aims to realize artificial super intelligence, which he said would be 10,000 times smarter than human intelligence.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
(END) Dow Jones Newswires
June 27, 2024 04:56 ET (08:56 GMT)
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