Softbank records US$7.2bn full-year loss on tech woesAFP, TOKYOSoftbank Group Corp yesterday reported an annual net loss of US$7.2 billion after a bruising year for the tech start-up sector in which it is heavily invested. The Vision Fund 1 and 2 vehicles were hit by the global tech rout, the company said in a statement. Photo: Reuters“Share prices of numerous public portfolio companies declined for the fiscal year amid the weakness in global stock markets, although share prices of several companies rose in the fourth quarter,” it said. Softbank Group billionaire founder Masayoshi Son, who for years touted AI as a revolutionary force in the way we use technology, gathered a group of engineers recently and spoke about ChatGPT’s possibilities, Miyakawa said. “We are dead positive on ChatGPT,” Miyakawa said.

Source: Taipei Times May 11, 2023 21:35 UTC