SoftBank Vision Fund Mulls 20% Job Cuts After Son’s Pivot to AI

SoftBank Vision Fund, a prominent investment firm, is considering cutting up to 20% of its workforce, according to a person familiar with the matter. This potential move reflects a shift in the company's focus, led by its founder Masayoshi Son, towards making more ambitious investments in artificial intelligence (AI) technology. The Vision Fund, known for its large-scale investments in various tech companies, has been facing challenges due to the recent economic downturn and the broader tech industry's struggles. This has prompted the fund to reevaluate its strategy and workforce, with a greater emphasis on AI-related opportunities. The proposed job cuts are expected to streamline the organization and align it more closely with Son's vision of leveraging AI to drive future growth and innovation. This strategic pivot underscores the growing importance of AI in the tech landscape and SoftBank's desire to position itself at the forefront of this transformative technology.