SoftBank Posts $46 Billion Vision Fund Gain Driven by OpenAI Bet
Japan's SoftBank reported a fourth-quarter net profit of $12 billion as its Vision Fund booked a record $46 billion annual gain. The bulk of the gain was driven by the appreciation of its OpenAI stake, the company said on Wednesday.
SoftBank Group reported a $12 billion fourth-quarter net profit on Wednesday, while its Vision Fund posted a record annual gain of $46 billion. The company said the bulk of those gains came from the rising value of its OpenAI stake.
SoftBank has tilted heavily toward artificial intelligence over the past two years, anchoring its portfolio around OpenAI and chip designer Arm. Chief executive Masayoshi Son said the group intends to remain "central" to the next wave of AI infrastructure investment, and signalled continued large commitments to the sector.
The Vision Fund's swing marks a sharp turnaround from prior years, when losses on holdings such as WeWork and Didi weighed on the unit. Analysts said the OpenAI valuation will continue to dominate SoftBank's reported results in coming quarters, leaving the conglomerate's earnings tied to a single, privately held investment.
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