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SoftBank Vision Fund Posts $46B Gain Buoyed by OpenAI Valuation Surge

SoftBank's Vision Fund recorded a $46 billion annual gain, with OpenAI accounting for the bulk of returns as the artificial intelligence company's valuation climbed to $852 billion in a funding round closed in March. The Japanese conglomerate has deployed more than $30 billion into OpenAI and realized $45 billion in investment gains for the fiscal year ended March. The Vision Fund generated $20 billion in gains during the final quarter, nearly entirely attributable to OpenAI appreciation. Other portfolio holdings including Coupang, DiDi Global and Klarna posted losses. SoftBank committed $60 billion total to OpenAI, securing approximately 13 percent ownership. However, the heavy concentration triggered S&P Global Ratings to shift SoftBank's outlook to negative, citing concerns about asset liquidity and financial capacity. The company has offset some risk by divesting stakes in T-Mobile and Nvidia.