SoftBank Group has joined forces with U.S. artificial intelligence medical company Tempus AI to form a new joint venture aimed at bringing Tempus AI’s advanced AI-driven genomic testing and personalized treatment recommendation services to the Japanese market. This is another major move by SoftBank following a series of investments in artificial intelligence, marking the further deepening of its strategic layout in the field of artificial intelligence. This move will not only bring innovative technology to the Japanese medical industry, but also provide an important opportunity for Tempus AI’s global expansion. Masayoshi Son officially announced the news at a press conference in Tokyo, and estimated that both parties will each inject 15 billion yen into the joint venture.
SoftBank Group has formed a new joint venture with Tempus AI to use artificial intelligence (AI) to analyze personal medical data and provide treatment recommendations. SoftBank Group CEO Masayoshi Son announced the news at a press conference in Tokyo.
This is the latest move by SoftBank after announcing a series of investments in artificial intelligence, marking an increase in the pace of investments by SoftBank after several years of lackluster investment activity. SoftBank invested approximately US$200 million in Tempus’ G-round financing in April this year, and Tempus subsequently listed on Nasdaq in June.
Tempus provides genomic testing services in the United States and provides AI-based treatment and clinical trial recommendations based on a database of millions of patients’ clinical records. The parties hope to introduce this service to Japan, making it the only medical market outside the United States where such services are available.
It is expected that both parties will each inject 15 billion yen (approximately US$93 million) into the joint venture. The joint venture is expected to close in July, subject to fulfillment of closing conditions. Tempus' stock price fell to about $27.50 on June 26, compared with its initial public offering price of $37 on June 14.
Highlight:
⭐ SoftBank Group has partnered with Tempus AI to establish an artificial intelligence medical joint venture, aiming to introduce U.S. genomic testing and artificial intelligence-based treatment recommendation services to Japan.
⭐ The two parties are expected to invest 15 billion yen (approximately US$93 million) each in this joint venture.
⭐ Tempus' stock price fell to about $27.50 on June 26, below its initial public offering price on June 14.
The cooperation between SoftBank and Tempus AI heralds the entry of AI-driven personalized medicine into the Japanese market, bringing more precise medical services to Japanese patients. This huge investment also shows the great confidence of both parties in the AI medical field, and the future development is worth looking forward to. Tempus’ stock price fluctuations also reflect the market’s complex expectations for the development prospects of AI medical companies.