Reported about 4 hours ago
SoftBank Group plans to reduce its Vision Fund team by nearly 20% as founder Masayoshi Son redirects resources towards ambitious artificial intelligence projects in the U.S. This marks the third round of layoffs since 2022, even as the fund recently reported its best quarterly performance since mid-2021, boosted by strong gains in holdings like Nvidia and Coupang. Amid a strategic pivot away from a diverse startup portfolio, the remaining staff will focus on high-stakes investments in AI infrastructure and technologies, including a significant $500 billion project called Stargate aimed at developing a network of data centers in partnership with OpenAI.
Source: YAHOO