SoftBank Vision Fund books $2.4 billion gain boosted by OpenAI bet

SoftBank posted a $2.4 billion gain at its Vision Fund in the December quarter as a jump in the value of its OpenAI investment helped offset losses in some of its other bets.

With the Vision Fund, SoftBank has invested in AI companies it believes will be category winners, seeking to position itself at the center of the technology’s development.

This includes a roughly $40 billion investment in ChatGPT developer OpenAI as one of its core companies. Among SoftBank’s other key bets is chip designer Arm and investments that span everything from robotics to driverless cars.

SoftBank shares have jumped this week after strong results at its telecommunications unit and a rally in the price of Arm’s stock.

This is a breaking news story. Please check back for more.