SoftBank Group¡¯s Vision Fund eked out its first profit in more than a year and said it¡¯s cautiously resuming investments to capitalize on the opportunities in artificial intelligence and other emerging technologies.
The Vision Fund invested $1.6 billion in the June quarter after coming to a virtual halt as investors soured on money-losing startups. But that¡¯s still just a fraction of the fund¡¯s early spending pace.
¡°We are investing timidly, with fear in our hearts,¡± SoftBank Chief Financial Officer Yoshimitsu Goto said during an earnings call. ¡°But for an investor to play it safe is the same as not doing work.¡±
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