Rakuten Billionaire Defends Costly Mobile Foray With Big AI Bet

(Bloomberg) — Rakuten Group Inc.’s chief dismissed skeptics who call the Japanese e-commerce pioneer’s mobile foray a mistake and said the telecom arm is central for future growth through artificial intelligence. Most Read from Bloomberg A decision to enter Japan’s cutthroat wireless market has saddled Rakuten with four years of losses, weighing on its cash-churning…

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