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.”