Asia Tech Wire (July 4) -- SoftBank CFO Yoshimitsu Goto said there are no immediate plans to buy back shares, according to the Financial Times.

Goto said in an interview that SoftBank has determined to prioritize investments in artificial intelligence (AI) despite pressure from activist investor Elliott Investment Management.

At the same time, Goto said SoftBank has no immediate plans to buy back shares.

SoftBank plans to invest nearly $9 billion a year in AI to accelerate its most radical transformation yet.

As part of that effort, the company raised a total of about $1.86 billion in June through the issuance of dollar and euro bonds.