- SoftBank’s Vision Fund rebounded, posting a $3.6B gain in Q3.
- Healthy exits and Arm’s IPO drove the swing to $6.3B profit.
- Son shifts focus to AI investments, aiming to sustain momentum after a rocky 2022.
SoftBank’s Vision Fund has staged a major comeback after struggling in early 2023, recording a healthy $3.6 billion investment gain in the December quarter.
Vision Fund 1 generated $1.9 billion, while the newer Vision Fund 2 delivered $1.7 billion as both funds exited 13 companies.
How did SoftBank swing to profit?
Parent firm SoftBank Group swung to a $6.3 billion net profit compared to a $5.2 billion loss a year earlier. Driving results was the successful IPO of chip designer Arm, still partially owned by SoftBank. Arm notched $2.1 billion in sales over the last 9 months.
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SoftBank’s AI shift
Another boost came from SoftBank’s windfall receipt of 48.8 million T-Mobile shares in December, stemming from Sprint’s merger with the mobile carrier.
This, along with numerous portfolio exits totaling $19.5 billion, signal SoftBank’s ongoing shift toward AI-focused investments.
The upbeat financials pushed SoftBank stock up 11% to 7,350 yen in Tokyo trading. With Sachin Son’s Vision Fund back in the black and reallocating capital to hot sectors like AI, SoftBank aims to sustain momentum after a rocky 2022.
