Rakuten Billionaire Justifies Mobile Arm Losses with Big AI Bet

Rakuten Billionaire Justifies Mobile Arm Losses with Big AI Bet

(Bloomberg) — Rakuten Group Inc.’s chief dismissed skeptics who call the Japanese e-commerce pioneer’s mobile foray a mistake and said the telecom arm is central for future growth through artificial intelligence.

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A decision to enter Japan’s cutthroat wireless market has saddled Rakuten with four years of losses, weighing on its cash-churning online shopping mall and finance operations. But that mobile arm and its 8 million-plus users help train an AI…

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https://finance.yahoo.com/news/rakuten-billionaire-justifies-mobile-arm-230000748.html

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