The development of AI will require investment of $5 trillion each year by 2040, and any talk of a bubble forming around the technology is "absurd," SoftBank Group CEO Masayoshi Son said on Tuesday at the company's annual corporate conference in Tokyo.
"Every year $5 trillion, or 800 trillion yen — you might think that's a lie, but I am confident that's what it will cost," Son said at SoftBank World 2026.
"The business model will be viable because by 2040, if AI revenue makes up 20% of global GDP, spending 800 trillion yen a year is a rounding error."
Over the past two years, SoftBank has embarked on an expansive investment program to establish itself as a core AI platform, putting tens of billions into OpenAI, financing data centers, and investing in robotics firms. Son's cumulative investment in ChatGPT-maker OpenAI is set to exceed $60 billion before 2026 ends.
No Bubble, Just Transformation
AI firms have soared in value while capital expenditure to secure underlying infrastructure has ballooned, sparking concern over whether these firms will generate sufficient return on their investments.
"Asking if AI is a bubble is absurd. I don't think people who ask that question know what AI is about," Son said, reiterating his position.
To power AI, Son predicted AI data centers will need power generation of 3 terawatts by 2040 — equal to 1.8 times total current global power consumption. This will initially be powered primarily by gas before nuclear fusion becomes the main energy source, Son said.
"Will we use solar power in space as Elon Musk says? Maybe we will use both, but if you ask me, fusion on earth will be the cheaper, cleaner energy source," he said.
The Agent-Centric World
Son outlined his vision of society in 2040 where 100 trillion AI agents make their own decisions, take action and communicate with other agents.
"We will go from a human-centric world to an agent-centric world. The age when humans are the highest life form on earth will end. For better or for worse, it will happen and it can't be stopped," Son said.
The speech underscores SoftBank's conviction that the AI infrastructure buildout — however expensive — is the defining investment opportunity of the coming decades.
