SoftBank Group will lay off nearly 20% of its Vision Fund team as it shifts focus to AI bets in the US. The fund currently has over 300 employees globally, with recent strong quarterly performance driven by gains in public holdings like Nvidia and Coupang.

The move signals a shift away from a broad startup portfolio towards Son’s AI initiatives, like the proposed $500 billion Stargate project with OpenAI. The restructuring marks a return to Son’s high-risk, high-reward approach after losses on WeWork. SoftBank is investing heavily in AI infrastructure and chip firms like Arm, Intel, and Nvidia.

Vision Fund’s layoffs mark a shift back to Son’s bold investment strategies, focusing on AI and breakthrough technologies. This move follows strong quarterly performance and signals a pivot towards high-conviction bets in AI. SoftBank’s aggressive pursuit of new investments in AI reflects Son’s vision for the future of the company and the tech industry.

Read more at Yahoo Finance: SoftBank Vision Fund to lay off 20% of employees in shift to bold AI bets, source and memo say