SoftBank and Symbotic Partner to Deliver AI-Powered Warehousing

SoftBank (SFTBY) and Symbotic (SYM) have joined forces to create GreenBox Systems, a venture that has the potential to revolutionize the warehousing sector by offering a Warehouse-as-a-Service solution. This innovative service is powered by advanced AI and automation technology, which is set to transform the logistics industry.

GreenBox Systems is designed to help businesses streamline their operations, reduce inventory and costs, increase SKU count and agility, and eliminate capital expenditures and operational complexity. It’s a clear indication of the future of inventory management, leveraging the power of AI and technology to create a more efficient and cost-effective warehousing solution.

This venture has already seen significant financial backing, with Symbotic securing a $7.5 billion contract with GreenBox. Under this agreement, GreenBox will exclusively provide Symbotic’s systems in the Warehouse-as-a-Service market. Starting in fiscal year 2024, GreenBox will order Symbotic’s systems over a span of six years, with plans for large-scale deployments across its warehouse network.

This joint venture forms a key part of SoftBank’s wider strategy to develop AI technologies that improve business efficiency. The company is specifically targeting e-commerce companies, retailers, and logistics firms, sectors that can greatly benefit from streamlined and automated inventory management.

The new platform developed by SoftBank and Symbotic will offer a range of solutions, including inventory management, order picking, and sorting, all powered by AI and robotics. This innovative approach is expected to improve efficiency, reduce costs, and enhance accuracy in the supply chain sector, providing a significant advantage to businesses of all sizes.

The partnership between SoftBank and Symbotic is reflective of a broader trend of integrating technology into traditional industries to create more efficient and scalable solutions. It’s a clear sign that the future of warehousing and logistics lies in the use of advanced technology to drive efficiency and reduce costs. This joint venture is certainly a step in the right direction and is set to make a significant impact on the industry.

About SoftBank

The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an investment holding company that includes stakes in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers; the SoftBank Vision Funds and SoftBank Latin America Funds, which are investing more than US$160 billion to help extraordinary entrepreneurs transform industries and shape new ones. To learn more, please visit https://group.softbank/en.

About Symbotic

Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, A.I.-powered robotic and software platform. Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Applying next-generation technology, high-density storage and machine learning to solve today’s complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy and efficiency. As the backbone of commerce, Symbotic transforms the flow of goods and the economics of the supply chain for its customers. For more information, visit www.symbotic.com.

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SoftBank and Symbotic Partner to Deliver AI-Powered Warehousing

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