TOKYO — Japanese financial services group SBI Holdings plans to invest about 10 billion yen ($69 million) in Tokyo-based Preferred Networks and work with the startup to design chips for artificial intelligence, the Nikkei has learned.
Preferred Networks is preparing for a private placement of shares of about 10 mostly Japanese companies. SBI is expected to play a lead role in this fundraising round, making it one of the startup's top investors alongside Toyota Motor.