Why Beijing blocked SoftBank’s $5.4 billion ABB Robotics deal? Setback for Masayoshi Son’s physical AI ambitions

China has blocked Japanese investment conglomerate SoftBank Group’s proposed $5.4 billion acquisition of the robotics business of Swiss-Swedish engineering giant ABB
, dealing a significant setback to founder Masayoshi Son’s ambitions to expand into physical artificial intelligence (AI).

According to a report by The Japan Times, ABB confirmed that a Chinese government agency had prohibited the transaction.