SoftBank is targeting over $10 bn in public investing

SoftBank Group Corp. is targeting investments of more than $10 billion in public stocks as part of a new asset management arm, far exceeding the initial holdings that founder Masayoshi Son outlined to shareholders.

Masayoshi Son said SoftBank had acquired holdings in some of the so-called FAANG stocks. FAANG refers to a group of five large tech companies: Facebook Inc., Amazon Inc., Apple Inc., Netflix Inc. and Google, whose parent company is Alphabet Inc.

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