The cuts reflect the diminishing role of the Vision Fund as SoftBank allocates resources into AI projects
In sum – what to know:
Vision Fund plans 20% cuts – More than 50 jobs may be eliminated as SoftBank streamlines operations under CEO Masayoshi Son’s AI-first strategy.
AI investments take priority – Son is pushing major bets, including $30 billion for OpenAI, a $6.5 billion Ampere deal, and the $500 billion Stargate project.
Fund already shrunk 40% – From a peak of 474 staff in 2020, Vision Fund’s headcount has steadily declined, reflecting its reduced role.
SoftBank Group’s Vision Fund is weighing job cuts of up to 20% as the Japanese company’s CEO Masayoshi Son intensifies his pivot toward large-scale investments in the artificial intelligence (AI) field, Bloomberg reported, citing a person familiar with the matter.
The fund employed around 282 staff at the end of March and could shed more than 50 positions, the source said. A spokesperson confirmed reductions in the fund are planned but did not provide further details, according to the report.
The cuts reflect the diminishing role of the Vision Fund as SoftBank allocates resources into AI projects, including a $30 billion plan to back OpenAI and a $6.5 billion acquisition of chipmaker Ampere Computing, still under regulatory review. SoftBank has already invested about $10 billion in OpenAI.
Other initiatives include partnering with OpenAI and Oracle on the $500 billion Stargate data center program in the United States, and pursuing a $1 trillion AI industrial park with Taiwan Semiconductor Manufacturing, the report added.
Since its 2017 launch, the Vision Fund has been downsizing steadily. At its peak in 2020, the fund had 474 staff, but its workforce has now contracted by around 40%
“We continually adjust the organization to best execute our long-term strategy — making bold, high-conviction investments in AI and breakthrough technologies,” a spokesperson said.
