(Reuters) -SoftBank Group is partnering with Symbotic for a warehousing venture that will be majority owned by the Japanese investor and will buy $7.5 billion of the U.S. firm’s artificial intelligence-powered systems, the companies said.
Shares of Symbotic up 7% in premarket trading.
The companies are investing a combined $100 million in the venture, which will be called GreenBox Systems, they said on Monday.
SoftBank Group will have a 65% stake in GreenBox, with Symbotic owning the rest.
(Reporting by Zaheer Kachwala; Editing by Shailesh Kuber)
