Arm Chief Haas in Line to Lead Much of SoftBank’s International Business, Ft Reports 

Arm CEO Haas in line to lead much of parent SoftBank's international business, FT reports

Arm CEO Rene Haas Poised for Expanded Role at SoftBank

April 9 (Reuters) - Chip designer Arm's CEO Rene Haas is in line to lead much of parent SoftBank Group's international business while keeping his current role at Arm, the Financial Times reported on Thursday, citing multiple people familiar with the matter. 

Responses from Arm and SoftBank

Arm declined to comment while SoftBank which is the majority-owner of Arm, did not immediately respond to a request for comment from Reuters. SoftBank declined to comment to the FT.    

Strategic Implications of Haas's Appointment

SoftBank's AI Chip Strategy: Project Izanagi

According to the FT report, Haas's appointment aims to push forward SoftBank's AI chip strategy, Project Izanagi, launched to compete with rivals such as U.S.-based chipmaker Nvidia.

Haas's Expected Role and Limitations

Haas was expected to take a title reflecting his senior role at SoftBank Group International, but was not expected to run the company's Vision Fund investment vehicles or its energy business, the report added. 

SoftBank's Broader AI Ambitions

Masayoshi Son's Vision for AI

The report comes as Masayoshi Son, the billionaire founder of SoftBank, makes increasingly aggressive bets on AI following years when SoftBank swung between outsized gains and heavy Vision Fund losses. 

Arm's Recent AI Data Centre Chip Launch

Impact on Arm's Financial Performance

Last month, Arm unveiled a new artificial intelligence data centre chip, which it said would add billions of dollars in revenue and mark a significant shift in strategy. Its shares are up more than 10% since the announcement.

Reporting Credits

(Reporting by Akanksha Khushi in Bengaluru; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)