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CP NewsAlert: Champagne says Canada won't pause digital services tax

CP NewsAlert: Champagne says Canada won't pause digital services tax

Yahoo21 hours ago

OTTAWA — Finance Minister François-Philippe Champagne says Canada is going ahead with its digital services tax on big tech companies that is set to take effect on June 30.
Pressure has mounted on Ottawa to put the tax on hold ahead of trade discussions with the U.S.
More coming.
The Canadian Press

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SoftBank founder proposes $1trn AI and robotics hub in US
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Yahoo

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SoftBank founder proposes $1trn AI and robotics hub in US

SoftBank Group founder Masayoshi Son is pursuing a plan to establish a $1trn industrial complex in Arizona, the US, to create a major hub for AI and robotics manufacturing, reported Bloomberg. The Japanese investment firm has approached Taiwan Semiconductor Manufacturing (TSMC) to play a key role in the project, though the specifics of TSMC's potential involvement remain unclear. The proposed complex, dubbed 'Project Crystal Land,' envisions a high-tech manufacturing hub akin to China's Shenzhen, individuals familiar with the plan told the publication. The park could include production lines for AI-powered industrial robots, they said, though the discussions remain private. SoftBank has also engaged with Samsung Electronics executives to gauge interest, alongside a range of other technology companies, the report added. SoftBank officials have held discussions with US federal and state government officials, including US Secretary of Commerce Howard Lutnick, to explore potential tax incentives for companies investing in the industrial park. Son has compiled a list of SoftBank Vision Fund portfolio companies, such as robotics firm Agile Robots SE, that could establish production facilities at the site. The project's feasibility depends on support from the Trump administration and state authorities. While the envisioned cost could reach $1trn, as previously reported by the Nikkei, the actual scale will hinge on participation from major technology firms, Bloomberg's report said. If successful, Son has suggested the possibility of developing additional advanced industrial parks across the US. TSMC, which has already begun mass production at its first Arizona factory as part of a $165bn US investment, indicated that SoftBank's project does not impact its existing plans in Phoenix. Representatives from SoftBank, TSMC, and Samsung declined to comment, and the US Commerce Department did not immediately respond to Bloomberg's inquiries. In March 2025, SoftBank agreed to acquire Ampere Computing, a US-based semiconductor design company, for $6.5bn. As per the deal, Ampere Computing will be acquired by SBG through its subsidiary Silver Bands 6 (US) Corp. Ampere Computing is engaged in developing high-performance, energy-efficient processors tailored for cloud computing and AI workloads. The company currently employs approximately 1000 engineers. "SoftBank founder proposes $1trn AI and robotics hub in US" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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