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SoftBank Pours Billions into Big Tech, Amasses $1.2bn in Amazon

SoftBank Pours Billions into Big Tech, Amasses $1.2bn in Amazon

SoftBank Pours Billions into Big Tech, Amasses $1.2bn in Amazon

NEW YORK — SoftBank Group is on another investment spree — but this time it is buying into America’s Big Tech establishment rather than chasing highly valued startups in a bid to appease investors with immediate returns

New filings Monday by the Japanese conglomerate show that it had built a $1 billion stake in Amazon as of June 30. Other new holdings included $500 million worth of shares in Google parent Alphabet, and $200 million each in Tesla and Netflix. Because share prices in these companies have risen since then, the Amazon stake alone is now worth $1.2 billion.

The filings, which SoftBank submitted this month to report activities in the April-June period, are required on a quarterly basis by the U.S. Securities and Exchange Commission. This marks the first time SoftBank has made such a filing. Read more…..

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