SoftBank is the largest shareholder in CloudMinds, owning more than a third of the AI and robotics technology developer that is targeting an overseas listing in the US.
China-based artificial intelligence and robotics technology developer CloudMinds has filed for a $500m initial public offering on the New York Stock Exchange, setting up telecoms conglomerate SoftBank for an exit.
The company intends to issue American Depositary Shares and list under the ticker symbol CMDS, though it has not yet set a price range or determined how much stock it will release.
CloudMinds operates a cloud-based platform capable of simultaneously connecting to millions of robots – which it manufactures…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
