SoftBank Group Corp. raised around $4.8 billion through a sale of T-Mobile US Inc. shares, a move that helps fund the Japanese company’s grandiose plans for artificial intelligence.The Tokyo-based technology group sold 21.

SoftBank Group is looking to raise up to $4.9bn by selling shares in T-Mobile US through an unregistered overnight block sale, according to deal terms reviewed by Bloomberg News. The funds will support SoftBank's investments in AI,

SoftBank Group has sold around a quarter of its stake in T-Mobile US for $4.8 billion, as the company seeks to fund its AI ambitions. Reuters reported that the company sold 21.5 million T-Mobile shares at $224 each. The shares were offered in a price range of $224 to $228 each, according to a term sheet that Reuters reviewed.