Softbank's Vision Fund Bounces Back With $4B Gains, The Highest In Nearly 3 Years
Portfolio Pulse from Benzinga Neuro
SoftBank Group Corp (OTC:SFTBY) reported a significant turnaround with its Vision Fund posting a $4.35 billion gain in the December quarter of fiscal year 2023, marking its highest gains in nearly three years. This recovery follows a challenging period where the Vision Fund suffered a record loss of approximately $32 billion in the previous fiscal year. The gains were largely attributed to the resurgence in tech company valuations and a profitable sale of shares in Arm Holdings, a majority-owned chip designer by SoftBank.
February 08, 2024 | 9:04 am
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SoftBank Group Corp (OTC:SFTBY) sees a significant earnings turnaround with its Vision Fund achieving a $4.35 billion gain in the December quarter of fiscal year 2023, marking a recovery from previous losses.
The reported gains for SoftBank's Vision Fund directly impact the company's financial health and investor sentiment. The significant recovery from previous losses and the successful sale of Arm Holdings shares are likely to positively influence SoftBank's stock price in the short term, as they reflect a successful turnaround strategy and improved performance in the tech investment sector.
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