SoftBank rides the AI wave as OpenAI lifts Vision Fund to $19 billion gain (www.cnbc.com)

SoftBank reported a surprise boost from its Vision Fund, recording a $19 billion gain in the fiscal second quarter ended Sept. 30 that helped the conglomerate post net profit of ¥2.502 trillion (vs. ¥206.9 billion expected) and revenue of ¥1.92 trillion (roughly in line with estimates). The Vision Fund’s number includes non-investment items and follows a ¥4.8 billion rise in the prior quarter. The results come amid heavy market volatility: SoftBank’s stock plunged nearly $50 billion in market value last week amid AI-bubble concerns, yet the shares remain up more than 140% year-to-date as the firm’s tech investments rebound. For the AI/ML community, the update underscores two trends: big returns and continued capital commitment to generative AI and robotics. SoftBank is aggressively funding startups and acquisitions aimed at robots and “Artificial Super Intelligence” (ASI), and it reportedly approved the final tranche of a planned $30 billion investment in OpenAI — subject to restructuring clauses that could have cut the commitment to $20 billion. OpenAI recently completed a recapitalization that established a nonprofit holding a controlling stake over a for-profit public benefit corporation, a governance structure that directly affects how strategic capital is deployed. The combination of massive stakes, governance changes, and market volatility highlights both robust funding for frontier AI and the valuation and regulatory risks that come with it.