SoftBank posts US$23.1 billion Vision Fund loss on tech slump

TOKYO: SoftBank Group on Monday booked an investment loss of US$23.1 billion at its Vision Fund unit in the April-June quarter after a slide in the value of its assets, including closely watched unlisted holdings, amid market turmoil.

In the quarter ended in June, falling listed investments included robotics firm AutoStore Holdings and artificial intelligence firm SenseTime Group. Plunging initial public offering volumes and market scepticism towards money-losing startups have squeezed an important source of capital for SoftBank, which hopes to list chip designer Arm following the collapse of a sale to Nvidia.

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