Reported about 6 hours ago
SoftBank Group revealed a surprising quarterly loss of $2.4 billion, primarily due to the declining value of its investments in e-commerce platform Coupang and other tech companies through its Vision Fund. This loss, contrasting a projected profit, raises concerns about founder Masayoshi Son's strategies, particularly amidst aggressive AI investments, including significant support for OpenAI. Overall, the Vision Fund experienced a notable investment loss, ending a two-quarter profit streak, while SoftBank's total returns still outperformed the benchmark Nikkei 225.
Source: YAHOO