SoftBank’s Vision Fund reported a loss for the fiscal year ended March due to a 40% decline in investment gains. The fund recorded a gain of 434.9 billion yen, down from 724.3 billion yen the previous year. The Vision Fund segment logged a pretax loss of 115.02 billion yen ($777.7 million), compared to a profit of 128.2 billion yen in the prior fiscal year.
Investment gains were seen in companies like Didi and Coupang, but losses were incurred from companies such as AutoStore. Investors are closely watching for improvements in SoftBank’s investment arm after an unexpected loss in the third quarter. SoftBank’s stock has fallen about 17% this year amid market volatility and macroeconomic concerns.
Founder Masayoshi Son aims to position SoftBank as a leader in artificial intelligence. The firm owns a majority stake in semiconductor designer Arm and plans to acquire Ampere Computing for $6.5 billion to enhance AI applications. SoftBank also invested $30 billion in OpenAI during a $40 billion financing round that valued the startup at $300 billion. Additionally, SoftBank is involved in Stargate, a joint venture announced by former U.S. President Donald Trump.
— new from CNBC