Despite the profit, SoftBank's Vision Fund 2 has lost a total of $21 billion since its inception, due to a challenging interest rate environment and a slow IPO market. However, the company is optimistic about future gains from IPOs and is preparing for a major investment spree in AI. SoftBank's CEO, Masayoshi Son, has expressed his ambition to achieve "artificial superintelligence" within a decade and has already invested in AI companies like Perplexity and chip firms like Graphcore and Arm.
Key takeaways:
- SoftBank reported a $7.7 billion quarterly profit, a significant turnaround from a $6 billion loss in the same period last year, largely due to gains in its tech investments.
- SoftBank Vision Fund's CFO attributed the strong performance to 'macro tailwinds' such as US interest rate cuts and stimulus measures in China.
- Despite the recent gains, Vision Fund 2 has lost a total of $21 billion since its inception, grappling with a tougher interest rate environment and a slow IPO market.
- SoftBank is preparing for a significant investment spree in AI, with CEO Masayoshi Son expressing his ambition to achieve 'artificial superintelligence' within a decade.