SoftBank's CEO gives up retirement plan, will lead for another 10 years for AI robots

SoftBank's founder and CEO Masayoshi Son says he's giving up his long-held plan to retire in his 60s and will stay in charge for at least 10 more years. Now 68, Son says he has no time to retire because SoftBank is focused on making AI common and becoming a top AI robot company. He's updated his 50-year business plan and expects to work 10 to 15 more years.

SoftBank owns nearly 90% of Arm Holdings and is putting more money into AI companies. It's promised about $65 billion to OpenAI and agreed to buy ABB's robot unit for $5.4 billion. SoftBank also plans to start a new AI robot company called Roze in the US to grow its global reach.