SoftBank plans to cut 20% of Vision Fund staff, reallocating resources to AI investments

Jinse Finance reported that, according to a memorandum, SoftBank will cut nearly 20% of its Vision Fund team globally in order to shift resources toward founder Masayoshi Son's large-scale artificial intelligence investments in the United States. This round of layoffs marks the third for the Japanese investment group's flagship fund since 2022. The Vision Fund's website shows that the fund currently has 44 employees. Unlike previous layoffs, which were due to massive losses, this round comes after the fund reported its strongest quarterly performance since June 2021 last month. This move indicates the fund is shifting away from a broad portfolio of startup investments. Sources said that while the fund will continue to make new investments, the remaining staff will devote more resources to Masayoshi Son's ambitious AI plans. It is reported that a spokesperson for the Vision Fund confirmed the layoffs but did not disclose details.