SoftBank May Turn Profit After $48 bn In Vision Fund Losses
After five quarters of losses, SoftBank Group Corp.’s Vision Fund is set to earn a profit thanks to a recovery driven by artificial intelligence that is increasing startup valuations.
After suffering losses of $48 billion over the previous two fiscal years at the Vision Fund investment subsidiary, the Japanese conglomerate is battling to restore its footing. According to the average of expert expectations, analysts anticipate a minor profit at the fund for the three months ending in June, while SoftBank as a whole is anticipated to disclose a profit of around 73 billion on Tuesday.
The initial public offering of Arm Ltd. will determine if SoftBank founder Masayoshi Son can now go on the attack and look for new business opportunities. In a market debut as early as September, his chip designer hopes to raise up to $10 billion at a valuation of $60 billion to $70 billion. If Arm were to reach its fundraising goal, it would surpass Meta Platforms Inc. and Alibaba Group Holding Ltd. as the largest tech debut ever.
(With inputs from Shikha Singh)
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