SoftBank Group’s Vision Fund will reduce its global workforce by nearly 20% as it shifts its focus to large-scale artificial intelligence (AI) projects in the U.S. With over 300 employees, the fund confirmed these layoffs as part of a broader restructuring, according to Reuters.
This restructuring follows Vision Fund’s strongest quarter since 2021, fueled by gains in Nvidia and Coupang rather than losses. The change shifts the Vision Fund from a broad startup portfolio to a concentrated focus on AI investments.
Central to SoftBank founder Masayoshi Son‘s strategy is the proposed $500 billion «Stargate» project, which aims to build a vast U.S. data center network in collaboration with OpenAI. The fund has also invested nearly $10 billion in OpenAI over the past year, in addition to stakes in Arm, Graphcore, Ampere Computing, Intel and Nvidia.
The new approach aims to build an ecosystem spanning chips, data centers and AI models, although it carries significant execution risks. Despite delays in U.S. and Japanese projects, SoftBank’s faith in them remains unshaken, while the company holds approximately $27 billion in cash, which it describes as a «very safe level.»
SoftBank was founded by Son in 1981 as a software distributor and publisher of computer-related literature. Over time, however, the company has evolved into an investment fund well known for its investments in robotics, artificial intelligence, software, logistics, transportation, biotechnology, and other areas.
