Tokyo, Japan – SoftBank Group Corp. Reported a significant boost to its Vision Fund in the December quarter, driven by the soaring valuation of its investment in OpenAI, the artificial intelligence firm behind ChatGPT. The , announcement signals a potential turning point for the Japanese conglomerate, which has faced scrutiny over the performance of its ambitious tech investments.
SoftBank posted a $2.4 billion gain at its Vision Fund for the quarter ending December 31, 2025, according to company statements. This gain was largely attributable to a $4.2 billion increase in the value of its OpenAI stake during the fiscal third quarter. The positive performance helped SoftBank Group book a net profit of 248.6 billion yen ($1.6 billion) for the period, reversing a loss from the same quarter the previous year.
OpenAI Investment Fuels Gains
The company’s investment in OpenAI, estimated at roughly $40 billion and representing approximately 11% ownership, has become a cornerstone of SoftBank’s strategy to capitalize on the burgeoning AI sector. Over the period from April to December 2025, SoftBank reported a cumulative $17 billion gain on its OpenAI investment. This substantial return underscores the potential of AI as a key driver of future growth for the Vision Fund.
However, the gains from OpenAI were partially offset by losses in other areas of the Vision Fund portfolio. Declining share prices of Coupang, a South Korean e-commerce company, and Didi, a Chinese ride-hailing app, contributed to the overall impact on investment returns. A markdown in SoftBank’s stake in TikTok creator ByteDance weighed on the fund’s performance.
Strategic Shift Towards AI
SoftBank’s focus on AI investments reflects a broader strategic shift under CEO Masayoshi Son. The company has actively sought to position itself at the center of AI development, believing that select AI companies will emerge as category leaders. This strategy involves identifying and investing in companies with the potential to revolutionize various industries through artificial intelligence.
Beyond OpenAI, SoftBank’s key investments include chip designer Arm, and a diverse portfolio spanning robotics and driverless car technology. The recent rally in Arm’s stock price, coupled with strong results from SoftBank’s telecommunications unit, has further bolstered the company’s financial outlook. The company’s shares have experienced gains this week as a result of these positive developments.
Vision Fund Performance and Market Context
The Vision Fund, established to make large-scale investments in technology companies, has experienced periods of both significant gains and substantial losses. The fund’s performance is closely watched by investors as a barometer of the health of the global tech sector. The recent gains from OpenAI provide a much-needed boost after a period of challenging market conditions and concerns about the valuation of some of its portfolio companies.
The $2.4 billion quarterly gain represents a positive step for SoftBank, but the company continues to navigate a complex investment landscape. The success of its AI investments will be crucial in determining the long-term performance of the Vision Fund and the overall financial health of SoftBank Group. The company’s ability to identify and nurture promising AI companies will be a key factor in its future success.
The broader market context is also important to consider. The rapid development of AI technology is creating both opportunities and risks for investors. The demand for AI-powered solutions is growing across various industries, but the competitive landscape is also becoming increasingly crowded. SoftBank’s ability to navigate this dynamic environment will be critical to its continued success.
The company’s investment strategy is not without its critics. Some analysts have questioned the size and concentration of its investments, as well as the potential for conflicts of interest. However, SoftBank remains committed to its vision of investing in transformative technologies and building a portfolio of leading companies.
The recent gains at the Vision Fund, driven by the OpenAI investment, provide a positive signal for SoftBank and its investors. However, the company faces ongoing challenges in managing its portfolio and navigating the evolving tech landscape. The coming quarters will be crucial in determining whether SoftBank can sustain its momentum and deliver long-term value.
