SoftBank, other major Japan firms set up new company for AI development

TOKYO - Major Japanese companies, including SoftBank Corp., NEC Corp., Honda Motor Co. and Sony Group Corp., have established a new firm to develop large-scale artificial intelligence for use by domestic companies, sources familiar with the matter said Sunday.

The companies hope to catch up with U.S. and Chinese rivals in developing an AI model, they said, adding they expect financial support from the Japanese government.