SoftBank Group invests $65 million in UK artificial intelligence firm

SoftBank Group has invested $65 million in British company Tractable, an insurance technology company that uses AI to assess insurance claims in photos, the Nikkei Business Daily reported on Tuesday.

In June CEO Masayoshi Son said he planned to shift to "offence mode" as artificial intelligence caught the attention of global investors. The group had previously slashed the volume of new investments in 2022 as it sought to recover from heavy losses on its Vision Fund investing arm.