SoftBank posts loss of $2.4 bn in Q3 on fall in ‘Vision Fund’ valuations

Japan’s SoftBank Group booked a surprise $2.4 billion quarterly loss on Wednesday, hit by a decline in the value of e-commerce platform Coupang and other tech companies held by its Vision Fund investment arm.

The result is likely to raise more questions about how founder Masayoshi Son aims to fund one of the tech investment giant’s most ambitious undertakings yet, a mammoth bet on AI that includes hefty backing for Sam Altman’s OpenAI.