SoftBank Investing $146 Million in Qraft Technologies

Issue 105

SoftBank has made a name for itself as being one of the world’s leading investors in tech start-ups and has recently upheld that title by investing $146 million into Qraft Technologies Inc. to bolster their development of AI tools associated with stock trading.

Qraft currently manages $1.7 billion for Asian banks and insurance companies and has made a name for itself by building a software platform that mines market data to identify promising stocks. Many were skeptical of Qraft’s software believing that it would replace human stock and bond pickers, but have since then warmed up to the idea believing that it will help underperformance and further justify fees charged to the investors.

Asset managers have been one of the slowest industries to adopt AI, but since this recent revelation firms have been in an arms race to acquire technology that can assist in market analysis.

Both SoftBank and Qraft have been reluctant to disclose Qraft’s full valuation.

Source: Seeking Alpha