SoftBank's Vision Fund posts fourth straight quarter of losses as tech slump hits Japanese giant
Publishing timestamp: 2023-02-07 03:43:06
Summary
SoftBank's Vision Fund posted its fourth straight quarterly loss on Tuesday due to a slump in technology valuations. Some of the worst-performing investments were Chinese artificial intelligence firm SenseTime and Indonesian technology group GoTo, both of which have seen shares plummet around 60% over last year. SoftBank is now in "defense" mode and is being more "conservative" with its investments. SoftBank has been exiting some of its highest-profile investments to raise cash, such as its remaining stake in Uber and some of its Alibaba shares. SoftBank is currently focused on trying to pull off a public listing of ARM, a British chip designer it bought in 2016.
Sentiment: NEGATIVE
Tickers: BABA, GTOFF, GOTO-ID, UBER, 9984.T-JP,
Keywords: softbank group corp, goto gojek tokopedia pt, investment strategy, goto gojek tokopedia pt tbk, uber technologies inc, business news, markets, earnings,