SoftBank is back in the black with a $12 billion profit after important Vision Fund bets recovered.
, Oracle founder Larry Ellison, and the Public Investment Fund of the Kingdom of Saudi Arabia. In less than three years, the Vision Fund has backed around 90 start-ups with over $75 billion.
In July 2019, SoftBank shocked tech investors again when it announced plans to create a $108 billion "Vision Fund 2" to invest in artificial intelligence . The SoftBank Group pledged to commit $38 billion to Vision Fund 2, while Apple,and Foxconn were all touted as external contributors that would commit the extra billions.
Vision Fund 2 is up and running but only with the $38 billion from the SoftBank Group. External investors decided to put their contributions on hold as they waited to see how the early Vision Fund investments turned out.
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