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Vision Fund

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business1 year ago

SoftBank Returns to Profit with Vision Fund Gains and Indian IPO Boost

SoftBank Group Corp. reported a significant gain of 608.5 billion yen ($3.96 billion) from its Vision Fund tech investment arm in the fiscal second quarter, driven by valuation increases in companies like Coupang and Didi Global. Despite a net loss in Vision Fund 2, the company benefited from the successful listing of Arm Holdings and investment gains in Alibaba and T-Mobile. SoftBank is repositioning itself in the AI sector, with plans to invest in OpenAI, while facing pressure from activist investor Elliott Management for share buybacks. The Japanese market remains volatile amid economic transitions.

via CNBC|
#ai#business#earnings
technology1 year ago

SoftBank CEO Predicts Super AI 10,000 Times Smarter Than Humans in 10 Years

SoftBank CEO Masayoshi Son predicts that artificial intelligence 10,000 times smarter than humans will emerge within 10 years. During SoftBank's annual general meeting, Son discussed the future of AI, including artificial general intelligence (AGI) and artificial super intelligence (ASI). He emphasized that while AGI will be slightly smarter than humans, ASI will bring significant changes. Son also reflected on his personal mission and SoftBank's role in advancing AI, despite the company's recent financial challenges.

via CNBC|
#ai#artificial-super-intelligence#masayoshi-son
finance1 year ago

SoftBank's Remarkable Turnaround: Profits Surge Over 15% Thanks to Arm and AI

SoftBank Group's shares surged over 15% after the Japanese investment firm posted its first quarterly profit in four quarters, driven by strong earnings from its Vision Fund and its tech investment arm, Arm, which is benefiting from the AI boom. The firm's net income for the December quarter far exceeded estimates, and its shift from an Alibaba-focused to an AI-focused portfolio has been highlighted, with its stake in Alibaba nearly zero and Arm's share in its asset portfolio rising to 32%.

via CNBC|
#ai#earnings#finance
businessfinance1 year ago

"SoftBank's Vision Fund Surges with $4 Billion Gain Amid Tech Valuation Recovery"

SoftBank's Vision Fund recorded its largest gain in nearly three years, with a 600.7 billion Japanese yen gain in the December quarter, marking the first quarterly profit after four consecutive losses. The recovery in technology company valuations contributed to this success, with gains from the sale of shares in chip designer Arm and rising valuations from investments in Didi and ByteDance. CEO Masayoshi Son is considering options for Arm after Nvidia's failed acquisition, and SoftBank's Tokyo-listed shares closed 11% higher following positive earnings and forecasts from Arm.

via CNBC|
#arm#businessfinance#investment-gains
business2 years ago

SoftBank's Vision Fund Reports $6.2 Billion Quarterly Loss Despite Modest Gains

SoftBank reported a $6.2 billion quarterly loss, but its Vision Fund managed to eke out a gain in the fiscal second quarter. The company attributed the loss to a weaker yen and U.S.-dollar denominated liabilities. SoftBank's Vision Fund saw an investment gain of 21.3 billion yen, thanks to the sale of shares in chipmaker Arm. This offset the decline in the value of other invested companies, such as SenseTime. SoftBank's founder, Masayoshi Son, had previously shifted the company into "defense" mode but is now optimistic about the potential of artificial intelligence technology.

via CNBC|
#business#investment-gain#masayoshi-son
business2 years ago

The Costly WeWork Saga: $11.5 Billion and Masayoshi Son's Credibility

The WeWork saga has cost Japanese billionaire Masayoshi Son $11.5 billion in equity losses and damaged his professional reputation. Son's investment style, characterized by overvaluing startups and giving founders more money than they asked for, has come under scrutiny. The collapse of WeWork, along with the Vision Fund's record loss of $32 billion, has raised questions about Son's judgment and arrogance. Despite the bankruptcy, SoftBank and existing creditors have agreed to a restructuring deal to slash more than $3 billion of WeWork's debt. Son's investing style is unlikely to change, and the focus now shifts to what he will invest in next.

via Yahoo Finance|
#bankruptcy#business#masayoshi-son
business2 years ago

SoftBank Acquires Arm Stake from Vision Fund for $64 Billion

SoftBank has acquired the remaining 25% stake in Arm Ltd from its Vision Fund unit, valuing the chip designer at $64 billion. SoftBank is expected to retain a stake of up to 90% in Arm, selling fewer shares in the upcoming IPO. The deal removes a potential overhang for Arm's stock as Vision Fund had planned to cash out its stake over time. The acquisition is a major victory for Vision Fund's biggest investors, including Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala. Arm's IPO is expected to take place in September.

via Reuters|
#arm-ltd#business#chip-designer
business2 years ago

SoftBank's First Quarter: Surprise Loss Offset by $1 Billion Investment Gain in Vision Fund

SoftBank reported a surprise loss of 477.6 billion yen ($3.3 billion) in the first quarter, falling short of analyst estimates, but improved from the previous year. However, its Vision Fund recorded an investment gain of 159.8 billion yen ($1.1 billion) due to investments in subsidiaries like Arm. SoftBank has faced challenges with its technology investments, including a $32 billion loss at its Vision Fund last quarter. The company aims to capitalize on the AI revolution and has a number of companies valued at $37 billion ready for IPO. SoftBank's track record includes backing WeWork and taking a stake in FTX, which faced fraud charges.

via CNBC|
#artificial-intelligence#business#investment-gain
business2 years ago

SoftBank's Vision Fund to undergo another round of layoffs.

SoftBank is reportedly planning a new round of layoffs at its Vision Fund investment arm, which could impact up to 30% of its staff, including employees in the US. The unit has booked heavy investment losses, and the layoffs are part of the Japanese conglomerate's cost-cutting measures. SoftBank has seen the valuation of its portfolio drop amid sharp interest rate hikes and rising US-China tensions. The group reported an annual net loss of $7.2bn for the year ended March 31.

via CNBC|
#business#investment#layoffs
business2 years ago

SoftBank responds to S&P's credit rating downgrade.

SoftBank has criticised S&P Global Ratings after the agency downgraded the Japanese company's credit rating to "BB" from "BB+". SoftBank said it was "extremely regrettable" that its financial soundness was not properly assessed and that it would continue its dialogue with S&P. The ratings agency argued that SoftBank's Vision Funds have a high exposure to unlisted company shares, which are more volatile, as a result of selling Alibaba stock that are listed in both the US and Hong Kong.

via CNBC|
#arm#business#credit-rating
business2 years ago

SoftBank's Vision Fund suffers massive $39 billion loss.

SoftBank's Vision Fund, its flagship tech investment unit, reported a record loss of $32 billion for the fiscal year ending Mar. 31, 2023, due to falling tech stock prices and losses on investments. SoftBank shares fell 3.68% in Tokyo. The company has been selling down stakes in Alibaba and Uber to weather the storm and is now looking towards artificial intelligence as the next investment opportunity. SoftBank is also gearing up for the IPO of Arm, the British chipmaker it acquired in 2016.

via CNBC|
#artificial-intelligence#business#loss
business2 years ago

SoftBank's Vision Fund suffers $32B loss, shifts focus to AI investments.

SoftBank's Vision Fund, backed by tens of billions of dollars of sovereign wealth money from the Gulf region, reported a $32 billion loss for its full year due to soaring interest rates, a raging war in Europe, and a general economic malaise. The losses were attributable to price drops across a whole range of its portfolio, including DoorDash and SenseTime. SoftBank CEO Masayoshi Son's ambitious project may no longer be fit for purpose in a world that's returning to its senses, and the company is offloading swathes of its other valuable holdings to make up for heavy Vision Fund losses.

via Business Insider|
#business#losses#masayoshi-son
business2 years ago

SoftBank's Vision Fund reports record $39bn annual loss.

SoftBank Vision Fund, the most prolific global investor in tech startups, reported a $32 billion loss in the financial year ending March due to valuation corrections across its portfolio of private and public tech companies amid a weakening global economy. The fair value of SoftBank’s portfolio was marked down over the quarter by $2.3 billion to $138 billion. SoftBank anticipates that the market may either start to show recovery linearly this year, or by the second half of this year, or in a worst-case scenario stumble through until early 2024.

via TechCrunch|
#business#losses#softbank
business2 years ago

SoftBank's Vision Fund reports staggering $32 billion loss.

SoftBank's Vision Fund segment posted a record loss of $32 billion for its fiscal year ending Mar. 31 versus a $24 billion loss in the same period a year before. Despite a rally this year in tech stocks, they are broadly still lower than a year ago. SoftBank's Vision Fund invests in high growth stocks which have faced headwinds from rising interest rates globally causing investors to sell out of riskier equities such as tech.

via CNBC|
#business#investment#loss