Japanese giant SoftBank on Tuesday posted a $19 billion gain on its Vision Fund in its fiscal second quarter ended Sept. 30.
The broader Vision Fund segment factors in non-investment performance such as administrative expenses and gains and losses attributable to third-party investors. The value of the fund had risen $4.8 billion in the company’s fiscal first quarter.
Here’s how SoftBank fared in the fiscal second quarter:
Softbank is ploughing ahead with its push into artificial intelligence, investing and acquiring firms that will bolster its presence in robots and Artificial Super Intelligence (ASI).
The Japanese conglomerate’s stock has slumped in the past week as concerns of an AI bubble sent jitters through global markets. Nearly $50 billion in market cap was wiped out from the stock last week, marking its worst weekly loss since March 2020. However, shares are up over 140% this year as its tech investment arm has showed signs of recovery.
