SoftBank Group Launches AI Health Joint Venture Business With Tempus AI

SoftBank Group, launched a joint venture with Tempus AI (photo: x @SoftBank_Group)

Japanese technology investor SoftBank Group launched a joint venture with Tempus AI aimed at analyzing personal medical data with artificial intelligence (AI) to provide treatment recommendations, CEO Masayoshi Son said at a briefing in Tokyo.

This is the latest in a series of AI investments recently announced by SoftBank, which increases the speed of its investment activity after several quiet years.

SoftBank invested about $200 million in Tempus in series G funding round in April before Tempus was listed on the Nasdaq in June. Tempus provides genomic testing services and provides recommendations for treatment and clinical trials informed by AI in the US, based on a database of millions of patients.

The two companies hope to bring the service to Japan, which will be the only health market outside the US where the service will be available, Son said at the briefing.

"By working with Tempus, we will develop services quickly in Japan," Son said. "With a database of 7.7 million US patients, we started with a quick move."

"Both sides are expected to invest 15 billion yen (IDR 1.5 trillion) into this business, which is expected to be completed in July, depending on the closing conditions," SoftBank said in a release.

Tempus' share price has fallen to around 27.50 US dollars on June 26 compared to the initial public offering (IPO) price of 37 US dollars on June 14.