Investing.com -- SoftBank (TYO: 9984 ) Group, a major Japanese technology investor, reported a surprising net loss of 369.2 billion yen ($2.4 billion) for the October-December quarter.
The loss is attributed to falling valuations at its Vision Fund investment arm.
Particularly, the company faced unrealised valuation losses from its investments in Coupang, a South Korean e-commerce platform, Didi Global, a Chinese ride-hailing firm, and AutoStore Holdings (OL: AUTO ).
The company's cash and cash equivalents fell to 4.7 trillion yen ($30.6 billion) at the end of December, down from 6.2 trillion yen at the end of the previous financial year in March.
In January, sources reported that SoftBank was in discussions to invest up to $25 billion in ChatGPT's creator. In addition to this, SoftBank has pledged to invest $15 billion in Stargate. This venture, backed by U.S. President Donald Trump, is a collaboration with OpenAI and Oracle (NYSE: ORCL ) aimed at building AI data center capacity in the United States.
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