SoftBank Group Corp's Vision Fund is set to cut 20% of its workforce as founder Masayoshi Son shifts focus toward artificial intelligence, multiple reports said on Friday.
Bloomberg, citing sources, reported that the Vision Fund unit is expected to lay off more than 50 employees as part of the exercise. As of March-end, the fund employed about 282 people. A spokesperson for the Vision Fund confirmed that job cuts are planned but declined to share further details.
"We continually adjust the organization to best execute our long-term strategy -- making bold, high-conviction investments in AI and breakthrough technologies," the spokesperson said in an emailed statement.
The latest round of layoffs comes after years of downsizing, as the Vision Fund has gradually lost prominence amid Son's growing appetite for AI bets. At its peak in FY2020, the $100 billion-plus fund employed 474 people, according to SoftBank's annual securities report. Since then, the workforce has shrunk by nearly 40%.
SoftBank's Vision Fund has also been paring down key assets in recent years to free up capital for new AI investments. With the company now concentrating on a smaller set of large-scale deals, the unit no longer requires the same number of investment advisers to manage fresh or existing bets.
Son is doubling down on AI with plans to invest around $30 billion in OpenAI. So far, SoftBank has already committed about $10 billion. In addition, the company is pursuing a $6.5 billion acquisition of chip designer Ampere Computing, though the deal faces regulatory scrutiny.
SoftBank has also partnered with OpenAI and Oracle Corp. on the $500 billion Stargate initiative to build AI data centers and infrastructure across the US. Separately, Son is working on a proposed $1 trillion AI industrial park and has approached Taiwan Semiconductor Manufacturing Co. for potential collaboration.
Reuters was the first to report on the job cuts, though News18 could not independently verify the developments.
The restructuring signals a return to Son's trademark high-risk, high-reward style -- making bold, concentrated bets rather than spreading capital across a wide venture portfolio. This marks a shift from the previous era of the Vision Fund, when SoftBank was forced to de-risk, sell assets, and restore credibility after incurring heavy losses on investments such as WeWork.