Details of FT Report — Businesses Entrusted to Haas, Businesses Son Won't Let Go

On April 9, 2026, the Financial Times (FT) reported, citing sources familiar with the matter, that Arm CEO Rene Haas is expected to lead the majority of SBG's international operations. Haas would retain his role as Arm CEO while gaining a senior title within "SoftBank Group International."

The key question in this personnel arrangement is what Masayoshi Son is delegating to Haas, and what he is keeping in his own hands.

Areas delegated to Haas:

  • Semiconductor business overall: Oversight of the entire "Silicon Trinity," including Arm itself, Graphcore (acquired by SBG in 2024 for $400–500 million / approximately ¥60–75 billion), and Ampere Computing (acquisition completed in November 2025 for $6.5 billion / approximately ¥975 billion)
  • AI business: Advancement of Project Izanagi, including AI chip development and data center chip strategy
  • Robotics business: Related investment portfolio including the robotics holding company (Robo HD) established in January 2025

Areas Masayoshi Son retains personally:

  • SoftBank Vision Fund (SVF): Investment decisions for SVF1 (approximately $100 billion / roughly ¥15 trillion), SVF2, and successor funds. The SVF is SBG's largest capital pool and the arena where Son embodies his personal investment philosophy
  • SB Energy business: A strategic venture launched in January 2026 with OpenAI and SBG each contributing $500 million (approximately ¥75 billion), tasked with building and operating AI data centers. It forms the infrastructure backbone of the $500 billion "Stargate Project," with Son serving as chairman of Stargate LLC
  • Domestic telecommunications (SoftBank Corp.): The telecom subsidiary led by President and CEO Junichi Miyakawa continues to operate independently as before

What this division suggests is a clear intent on Masayoshi Son's part: entrust the "execution" of technology to Haas, while keeping "capital allocation" and "energy = the core of AI infrastructure" in his own hands. The Vision Fund is the embodiment of Son's investment philosophy, and SB Energy is a strategic asset that controls the power supply for AI data centers — the critical bottleneck of the 21st century. His refusal to relinquish these two pillars signals his determination to personally control SBG's most important "bets."

Who is René Haas — A Semiconductor Industry Figure from Silicon Valley, Former Nvidia Executive

René Haas was born in 1962 in upstate New York. His father held a doctorate in computing, which nurtured his interest in technology from an early age. After earning a degree in electrical and electronic engineering from Clarkson University, he began his career as an engineer at Texas Instruments (TI), Xerox, and NEC, before moving to Silicon Valley and transitioning into sales within the semiconductor industry.

The most notable chapter of Haas's career is his seven years at Nvidia (2006–2013), where he served as Vice President and General Manager, contributing to the expansion of the GPU business. Nvidia is, of course, the very company that SBG is now seeking to challenge through Project Izanagi. Haas is someone who knows the competition from the inside — and it is easy to imagine that this is precisely what makes him so attractive to Son.

He joined Arm in October 2013 as Vice President of Strategic Alliances, was promoted to President of the IP Products Group (IPG) in 2017, and assumed the role of CEO in February 2022, succeeding Simon Segars. His greatest achievement since taking the helm was leading Arm's successful NASDAQ IPO in September 2023. The company's market capitalization at the time of listing was approximately $54.5 billion (roughly ¥8.2 trillion), and as of April 2026 it has grown to approximately $159 billion (roughly ¥23.9 trillion).

In 2025, he was named to TIME magazine's list of the 100 most influential people in AI. He has also completed an executive program at Stanford Graduate School of Business, and is a figure who combines the network and expertise of a Silicon Valley technology executive.

20 Years of Bloody History — SoftBank's Successor Candidates Under Masayoshi Son and Their Fates

To understand Huth's appointment, one must look back at the turbulent history of SBG's succession problem. Masayoshi Son, guided by his "50-Year Life Plan," repeatedly stated that he would "hand over the business to the next generation in his 60s." Yet every person considered a successor candidate has, without exception, seen their relationship with Son collapse and departed under dire circumstances.

First Candidate: Nikesh Arora (Tenure: 2014–2016)

Nikesh Arora, born in India, served as Google's Chief Business Officer before being recruited to SBG in 2014 as Vice Chairman and COO. At a May 2015 earnings briefing, Son publicly declared him "without a doubt my most important successor candidate." At the June 2015 shareholders' meeting, Son introduced him as "the top candidate for my successor," effectively treating him as a crown prince.

Arora's compensation was extraordinary. His total remuneration over two years at SBG exceeded approximately ¥20 billion, breaking records for Japanese corporations. However, in June 2016, he abruptly resigned from the board upon the expiration of his term. The official reason given was that "Arora wanted to take over within a few years, but Son intended to remain president for the foreseeable future"—though the reality was more complex. Anonymous investors raised seven allegations against him, which Toyo Keizai and the WSJ covered in detail. SBG's related costs upon his departure reached ¥6.8 billion, and the total cost including compensation during his tenure is said to have reached approximately ¥31.5 billion.

Arora went on to become CEO of Palo Alto Networks in 2018, dramatically increasing the company's share price. His reported 2023 compensation was approximately $151.4 million (roughly ¥22.7 billion)—making him one of the rare successor candidates who achieved great success after leaving SBG.

Second Candidate: Katsunori Sago (Tenure: 2018–2021)

Katsunori Sago, who had served as number two at Goldman Sachs Japan and Japan Post Bank, was recruited to SBG in 2018 as Chief Strategy Officer overseeing investment operations. Son reportedly persuaded Sago by promising he would "lead the AI revolution in Japan and the world." Appointed as Vice President and head of the investment division, Sago was counted among the successor candidates.

However, a deep rift emerged between the AI-driven investment strategy Sago had envisioned and the reality of SBG charging ahead with short-term profit-focused approaches—such as options trading in U.S. GAFA listed stocks funded by Middle Eastern petrodollars. At the end of March 2021, Sago quietly left SBG. In stark contrast to the fanfare of his appointment, his departure was handled in an extremely understated manner.

Third Candidate: Marcelo Claure (Tenure: 2014–2022)

Marcelo Claure, born in Bolivia, joined SBG in 2014 when SBG acquired his company Brightstar for $1.2 billion (approximately ¥180 billion). His track record of successfully restructuring U.S. Sprint (now T-Mobile US) as CEO and achieving the 2020 merger with T-Mobile was highly regarded within SBG. From 2019, he also worked to turn around WeWork as its chairman, rising to Vice President and COO. He was considered one of the leading candidates for succession.

The trigger for the breakdown was a dispute over compensation. The New York Times reported that Claure demanded compensation of up to $2 billion (approximately ¥300 billion), citing his achievements in Sprint's restructuring and WeWork's turnaround (Fortune reported it as "a demand for a $1 billion bonus"). Son had reportedly verbally hinted to Claure about the possibility of a larger compensation package, but there was never any written commitment.

Claure also advocated for spinning off the Latin America investment fund he oversaw, believing this would maximize business value and increase his own compensation. Son rejected this, judging the benefit to SBG shareholders to be limited and expressing concern about increased operational and governance complexity. On January 28, 2022, Claure's departure was announced.

Fourth Candidate: Rajeev Misra (Tenure: 2014–2022)

Rajeev Misra, born in India, had headed the fixed income division at Deutsche Bank before joining SBG in 2014. He was Son's closest ally, working hand in hand with him to launch SoftBank Vision Fund 1 (SVF1). SVF1 became the world's largest technology fund at approximately $100 billion (roughly ¥15 trillion), and as its architect, Misra occupied a position among the successor candidates.

However, a fierce power struggle played out between Misra and Claure. In 2019, Bloomberg reported on the "power struggle among SoftBank senior executives," noting that the conflict between the two was casting a shadow over Son's vision. As SVF1 recorded massive losses on investments such as WeWork and OYO, Misra's position gradually weakened. On August 31, 2022, he resigned as Vice President "to secure time for new challenges" (temporarily retaining the CEO role of SVF1).

Thus, all three individuals who had once held the title of SBG Vice President had resigned, leaving "zero." Online, this sparked commentary along the lines of "And then there were none…"

Fifth Candidate Group: Junichi Miyakawa and Yoshimitsu Goto (Ongoing)

In June 2025, at the shareholders' meeting, Son suggested for the first time that succession would come from within the company, stating: "There are several candidates inside the company" and "They work with me every day." While no specific names were given, he commented on Junichi Miyakawa, President and CEO of SoftBank Corp., saying "He is doing well. I have complete trust in him." Additionally, financial media has reported that SBG's CFO (also CISO and CSusO) Yoshimitsu Goto is one of the "two leading candidates." Goto joined SBG in 2000 and is a company-grown executive who has supported Son's financial strategy for over 25 years.

However, Son simultaneously stated that "I still want to continue managing the company for another 10 years" (Son will turn 70 in August 2027), effectively abandoning his earlier plan to "retire in his 60s."

What Haas's Appointment Means — The Return of an "Outside Professional Manager"

What is notable here is that Haas is a fundamentally different type of person from past successor candidates.

Past successor candidates shared a common pattern. They came from the financial industry (Arora = Google/investment, Sago = Goldman/Japan Post Bank, Claure = telecom/investment, Misra = Deutsche Bank) and were "dealmaker"-type figures skilled in investment decisions and business restructuring. They were recruited for their ability to run "SBG as an investment company" in the mold of Son's Vision Fund.

Haas, by contrast, is a pure semiconductor engineering and technology executive. He has built his career consistently within the semiconductor industry — at TI, Nvidia, and Arm — and is someone who has competed on the strength of product and technology, not investment or finance.

This appointment signals that SBG's self-perception is shifting from "investment company" to "AI technology company." In pursuit of the "ASI (Artificial Superintelligence)" that Son has repeatedly spoken about since 2024, what SBG now needs is no longer a dealmaker, but an executive who understands semiconductor and AI technology and can actually bring products to market.

Project Izanagi and the "Silicon Trinity" — The Empire Haarth Should Oversee

The semiconductor and AI business group of SBG that Harse will oversee has already grown to a massive scale.

Arm Holdings (Market cap: approx. $159 billion / approx. ¥23.9 trillion)

Arm, in which SBG holds a 90% stake, is the licensor of the CPU architecture used in more than 99% of the world's smartphones. Following its NASDAQ listing in September 2023, its share price surged significantly on the tailwinds of AI demand. In March 2026, it announced a new chip for AI data centers, sending its stock up more than 10%. Following reports of Harse's new appointment, shares rose a further 3.6%.

Graphcore (Acquisition price: $400–500 million / approx. ¥60–75 billion)

UK-based AI accelerator company Graphcore possesses a proprietary "IPU (Intelligence Processing Unit)" architecture. Designed specifically for AI workloads through a parallel processing approach that differs from GPUs, the company struggled to compete against Nvidia and was acquired by SBG in 2024. The IPU-Fabric provides 2.8 Tbps of interconnect bandwidth, giving it strength in large-scale distributed AI training.

Ampere Computing (Acquisition price: $6.5 billion / approx. ¥975 billion)

Ampere Computing, whose acquisition was completed in November 2025, is a US company that develops cloud-native CPUs based on Arm architecture. Its AmpereOne® processors, featuring up to 192 cores, have been adopted as power-efficient server CPUs by major cloud providers including Microsoft Azure, Google Cloud, and Oracle.

Project Izanagi — A $100 Billion AI Semiconductor Initiative

Named after the creator deity "Izanagi" from Japanese mythology, Project Izanagi is SBG's AI semiconductor development plan with a total investment of $100 billion (approx. ¥15 trillion). It integrates Arm's architecture, Graphcore's AI acceleration technology, and Ampere's server CPU technology to build a vertically integrated AI chip ecosystem that challenges Nvidia's GPU dominance.

On the technical side, the envisioned configuration has Ampere's Arm-based high-core-count CPU handling system management and data preparation, while Graphcore's IPU offloads large-scale parallel graph-based workloads. A unified memory space is formed via PCIe Gen5 high-bandwidth connectivity, reducing latency and power consumption. Shipment of the first Izanagi AI processors is planned for the second half of 2026, with a rollout of the next-generation 512-core "Aurora" chip also targeted within 2026.

The project had been driven by Yusaku Yamamoto, who heads SBG's algorithmic trading division, but Harse's assumption of the new role will now realize unified leadership over both technical and business strategy.

The Stargate Project — "Another Bet" That Son Won't Let Go Of

SB Energy, which falls outside Haas's jurisdiction, plays a central role in SBG's other mega-project: "Stargate."

Stargate is a $500 billion AI data center and infrastructure construction plan jointly announced by SBG, OpenAI, and Oracle alongside President Trump in January 2025. It launched with an initial investment of $100 billion, with a total of $500 billion to be deployed by 2029. Ten data centers are currently under construction in Abilene, Texas, with five additional new sites subsequently announced. Planned capacity reaches approximately 7 gigawatts.

SB Energy is SBG's energy infrastructure subsidiary, established in 2019, handling end-to-end development, construction, and operation of power infrastructure for AI data centers. In 2025, it received $800 million in preferred equity from the Ares Infrastructure Opportunity fund, and in January 2026, OpenAI and SBG each invested $500 million. It has been commissioned by OpenAI to build a 1.2 GW-scale data center site in Milam County, Texas.

Son serving as chairman of Stargate LLC and keeping SB Energy outside Haas's jurisdiction reflects a clear strategy: entrust the computational foundation of AI (chips) to others, while retaining direct control over the physical foundation of AI (power and data centers). Energy is the greatest bottleneck of the AI era, and controlling it carries greater long-term strategic value than the chip business.

How Silicon Valley VCs See It

The reaction from Silicon Valley's VC community to Haas's appointment can broadly be described as cautious optimism.

Positive views:

Haas appeared on the VC podcast "The Twenty Minute VC" (20VC) after becoming CEO, and in conversation with host Harry Stebbings, he spoke about his leadership philosophy drawn from his time at Nvidia, the trade-off between scale and quality, and maintaining innovation within large companies. In Silicon Valley VC circles, Haas's track record and network are highly regarded, and the prevailing view is that "it makes sense for SBG's international business to have a semiconductor expert at the helm for the first time."

Andreessen Horowitz (a16z) raised a new fund exceeding $15 billion (approximately ¥2.3 trillion) in early 2026, allocating $3.4 billion (approximately ¥510 billion) specifically to AI applications and infrastructure. a16z has even moved into large-scale GPU procurement and lending, meaning the direction of vertical integration in AI semiconductors aligns with SBG's Izanagi strategy.

Sequoia Capital, while taking a comparatively cautious approach to AI investment, has led numerous AI deals in the $400 million (approximately ¥60 billion) range. The fact that SBG is attempting to transition from an "investment company" to a "technology company" is, from the VC community's perspective, a positive signal that it is "becoming more predictable and more technology-driven."

Voices of concern:

On the other hand, among analysts there are concerns about the "wearing two hats" risk. Simultaneously handling two enormous roles — Arm CEO and head of SBG's international business — could dilute the kind of intensive day-to-day execution needed to compete with Nvidia in the AI semiconductor market. For Arm's shareholders (even though SBG holds approximately 90%, around 10% are external shareholders), concerns about the CEO's attention being directed toward other businesses are entirely understandable.

Furthermore, Silicon Valley investors who are aware of the fate of past successor candidates harbor a fundamental question: "Is there really an external hire who can last long under Masayoshi Son?" Arora's ¥31.5 billion exit cost, Claure's compensation dispute, Sago's quiet departure, Misra's resignation — each of these reflects a pattern showing that "relationships between Son and external talent tend to be short-lived."

Comparison of editorial stances across newspapers and websites

Financial Times (FT): The original source of the scoop. Stuck to factual reporting on "Arm CEO to oversee much of SBG's international operations" while hinting at succession implications. Careful reporting that also noted board approval from both companies was still pending.

Bloomberg: Ran with the slightly subdued headline "Arm's Haas CEO to help lead part of operations." By opting for "part of" rather than FT's "much of," it signaled a more cautious interpretation of the scope.

Reuters: Straightforward wire-service coverage. Summarized and distributed FT's reporting as-is, adding no independent analysis. Emphasized the fact that "both companies declined to comment."

Jiji Press / Yahoo! Finance Japan: Broke the news domestically as "Arm CEO to oversee 'much of' SoftBank G's international operations." Japanese media have been the most aggressive in exploring the succession-planning angle.

Newsweek Japan: Based on Reuters' wire report, ran the story as "Much of SoftBank G's international operations to be overseen by Arm CEO."

Investing.com / TradingView: Investor-focused sites zeroed in on the stock impact, quickly reporting that Arm shares rose 3.6%. However, compared to the 10%-plus surge when Arm announced a new AI data-center chip the month before the report, this suggests the market had already priced in the appointment to some degree.

ainvest.com: Led with the question-headline "SoftBank Elevates Arm's Haas to Oversee AI Push—Can This Leadership Bet Pay Off?" and analyzed the context of moving from an external hire to an organizational overseer, as well as execution risks. Described Haas's appointment as "one of the most significant senior hires SBG has made from outside the organization."

Techmeme: As a tech-industry aggregator, featured the FT report as a top story, framing coverage around its connection to Project Izanagi.

Upcoming Notable Timeline

PeriodExpected Developments
April–May 2026Formal approval of Haasch's new position by SBG and Arm boards of directors. Finalization of title and scope of authority
June 2026SBG Annual General Meeting. An opportunity for Son to explain the succession issue to shareholders. Haasch's positioning may be officially discussed
Second half of 2026Scheduled shipment of first AI processors under Project Izanagi. Haasch's oversight capabilities face their first real test
Within 2026Rollout target for the 512-core "Aurora" chip
2027Full-scale launch of large-scale data centers under the Stargate initiative. SB Energy's business scale expands rapidly, increasing the weight of businesses directly overseen by Son
August 2027Masayoshi Son turns 70. He once spoke of "retiring in his 60s," later revising this to "continuing beyond 70." Attention turns to whether this milestone will bring progress on succession planning
2028–2029Stargate initiative enters expansion phase toward its $500 billion target. Second-generation Izanagi chips expected to enter the market. It will become clear whether Haasch is functioning as the de facto No. 2 — or has followed the same path as past candidates

The Competitive Landscape Surrounding the "Silicon Trinity" — Trends Among Key Players

The semiconductor business group of SBG, overseen by Hirth, is facing a more intensely competitive market than ever before.

Nvidia: Maintains overwhelming market share in the AI semiconductor market. The robust lock-in effect of the CUDA ecosystem continues to entrench researchers and developers. Blackwell-generation GPUs are ramping up supply for data centers. The direct competitor that SBG's Izanagi aims to challenge.

Meta (MTIA): Internally developing the RISC-V-based AI inference-specialized chip "MTIA" series. Deploying a four-generation roadmap (MTIA 300–500) on a six-month cycle. A "diversification" strategy that continues to use Nvidia GPUs for training workloads.

Google (TPU): Tensor Processing Units cover both training and inference. Vertical integration into proprietary cloud infrastructure already achieved.

Amazon (Trainium / Inferentia): Deploying in-house chips for AWS on two pillars — Trainium for training and Inferentia for inference.

Intel: Exploring an Nvidia alternative with the Gaudi AI accelerator series, but market share remains limited.

AMD: Growing its presence as an alternative to Nvidia with the Instinct MI300 series.

The distinctiveness of SBG's "Silicon Trinity" strategy lies in its dual structure as both "platform holder and player" — leveraging its position as an Arm architecture licensor while simultaneously manufacturing and selling its own chips. This carries the risk of conflicts of interest with Arm licensees such as Apple, Qualcomm, Samsung, and MediaTek, making it one of the greatest governance challenges Hirth will face.

Conclusion — What Masayoshi Son Let Go of, and What He Did Not

If Haas's appointment were to be summed up in a single phrase, it would be this: "Technology execution is yours to own, but the power to place the bets stays with me."

The root cause of Son Masayoshi's repeated clashes with successor candidates has always been a fundamental resistance to delegating the authority to determine SBG's strategic direction. Arora left wanting "the president's seat within a few years," Claure collided with Son over compensation and authority commensurate with his achievements, and Misra departed after a power struggle.

Haas's appointment appears to be an attempt at a new model designed to avoid this pattern. What Haas is given is "operational responsibility for the technology businesses" — not "the authority to determine SBG's strategic direction." By keeping the Vision Fund and SB Energy — the two largest capital pools — firmly in his own hands, Son continues to decide "where the money goes" himself.

Whether this model works depends on whether Haas can remain satisfied in the role of "executor." Much of the reason past candidates left was that operational authority alone was no longer enough — they sought the standing of strategic decision-makers. As long as Haas retains his identity as a semiconductor engineer, keeps his passion focused on "building chips," and remains content in that domain, coexistence with Son is likely sustainable. But the moment ambitions stir to become SBG's "next leader" overall, history may well repeat itself.

This is precisely what Silicon Valley's VCs are watching. SBG is attempting to transform from an investment firm into a technology company, and whether it succeeds hinges on whether Son Masayoshi can genuinely entrust technology execution to someone else. With the 68-year-old Son saying he intends to "keep going for another ten years," Haas's appointment is not a "resolution" to the succession problem — it is merely the "beginning" of a new chapter.

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