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  • Softbank Group posted a $6.1 billion quarterly profit on Monday that as a broad upswing in tech valuations helped lift its mammoth vision fund back into positive territory, it's likely to be welcome news for investors unnerved by the firm's recent stumbles.

  • Founder Masayoshi Son had long enjoyed a reputation for foresight, not least due to his early investment in Chinese e commerce titan Alibaba.

  • But doubts grew after a Siri's off missteps, including big losses on investment in office sharing firm we work.

  • On Monday, Sun was asked exactly how he sees the future off his firm.

  • So stop his answer.

  • Softbank will focus on becoming an investment company that specializes in the A I revolution.

  • In recent months, the Japanese conglomerate has been selling shares in Alibaba and its domestic telecoms network.

  • It put the cash into tech stocks and derivatives in a bid to whether this year's tough times, though that too may have backfired.

  • Softbank ended up taking a $1.3 billion loss on the investments over the six months to the end of September.

  • Sohn doesn't seem worried, though.

Softbank Group posted a $6.1 billion quarterly profit on Monday that as a broad upswing in tech valuations helped lift its mammoth vision fund back into positive territory, it's likely to be welcome news for investors unnerved by the firm's recent stumbles.

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SoftBank posts profit, but tech investments sting

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    林宜悉 posted on 2020/11/11
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