SoftBank has sold off or written down $29 billion in U.S. Vision Fund assets as Masayoshi Son tries to get his mojo back by turning to AI and chips [Fortune]
SOFTBANK GRP UNSP/ADR (SFTBY)
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Source: Fortune
years, a sign of founder Masayoshi Son's shift away from the venture capital deals that were once an obsession and toward strategic investments in semiconductors and artificial intelligence. Since the end of 2021, the world's biggest startup fund has seen its U.S.-listed portfolio shrink by almost $29 billion, as it sold down stakes in companies such as Coupang Inc., DoorDash Inc. and Grab Holdings Ltd. and share prices fell, regulatory filings show. That figure doesn't include the sale of the Vision Fund's stake in chip designer Arm Holdings Plc back to SoftBank last year. The one-time tech kingmaker is now a shadow of its former self, having laid off more than a hundred staff and slowed new investments to a fraction of its past pace. Son is selling off assets from the fund's portfolio as he prepares for possible forays into AI and related hardware, said people familiar with the billionaire's thinking. SoftBank's equity capital market team—a group of traders from the likes of Gol
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