From NBCUniversal: 2024-11-12 02:07:24

SoftBank Corp. reports a 608.5 billion yen ($3.96 billion) gain on its Vision Fund in the fiscal second quarter ended Sept. 30. The broader Vision Fund segment saw a gain of 373.1 billion yen, attributed to valuation gains from investments in companies like Coupang, Didi Global, and Bytedance. Tokyo-listed shares of SoftBank are up approximately 51% this year.

Founder Masayoshi Son’s tech conglomerate, SoftBank, is repositioning itself in the artificial intelligence space. Son labels Nvidia as “undervalued” and predicts AI that is 10,000 times smarter than humans in the next 10 years. Reports suggest SoftBank will invest $500 million in OpenAI’s latest funding round. The company faces pressure from activist investor Elliott Management, which pushed for a $15 billion share buyback.

Japanese companies experienced high fluctuations over the summer quarter due to a strengthening yen and asset sell-offs. Analysts predict continued volatility, with expectations of another interest rate hike in December 2024 or January 2025. Japan is transitioning away from ultra-low-rate policies, with economic stability still uncertain.



Read more at NBCUniversal:: SoftBank earnings Q2 2024