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SoftBank sees new-found caution as secret weapon in AI arms race

Economic Times · 1y

SoftBank Group, known for its high-conviction bets on startups, is adopting a cautious approach in its search for the next big thing in AI. This marks a significant shift for the company, which previously made massive investments in startups. The change in strategy is a result of SoftBank's adoption of a defensive mode after the pandemic caused plummeting valuations. The Vision Fund unit made fewer investments in 2023 and the last quarter marked its most conservative period since 2017. SoftBank's newfound caution comes as it reported its first profit in five quarters.