Asia Tech Wire (June 20) -- Masayoshi Son, founder of Japan's SoftBank Group, said Thursday that the company will further invest in the power business to cope with demands for AI development.

SB Energy, which the group backs, develops and operates regenerative power businesses across the U.S., and will expand its power generation business in the U.S. in the future to meet the demand for electricity from AI projects, Son said at an annual general meeting.

He added that SoftBank will be looking for new seed investments overseas, and that the next major investment may or may not succeed, but SoftBank has no choice as the group's vitality stems from looking for new seed investments.