• SoftBank Group reported a loss for the December quarter, primarily due to a decline in the value of the Vision Fund’s public holdings. The company is now focusing on raising $500 billion for its Stargate AI project, which aims to build infrastructure for OpenAI in the US. To finance the project, SoftBank plans to create debt products for investors, including banks, insurers, and pension funds, with project financing limiting the company’s balance sheet exposure.

• Despite the challenges, including volatility in the Vision Fund and rising interest rates, SoftBank is pushing forward with its AI ambitions. Founder Masayoshi Son has committed $2 billion to OpenAI and continues to seek financing strategies, including raising 10% of the required funds through equity. The Vision Fund's losses have been exacerbated by setbacks at portfolio companies like ByteDance and eFishery, and SoftBank has been shifting focus to securing controlling stakes in key AI technologies for the Stargate project.