Fordel StudiosAI dominates SoftBank's portfolio as OpenAI gains drive profits
What Happened
AI-related holdings accounted for about 18% of the SoftBank group’s net asset value roughly three years ago, but now represent more than 60%.
Our Take
Honestly, this is just where the money flows. SoftBank isn't chasing AI; they're chasing the LLM infrastructure that powers it. The shift from 18% AI holdings to over 60% means the game is effectively over for the old investment models. It's not about some fleeting hype; it's about controlling the choke points—the compute and the model access. If you're not playing in the AI infrastructure layer, you're just a renter.
What To Do
Reallocate capital toward owning or deeply integrating proprietary compute infrastructure.
Cited By
React
Get the weekly AI digest
The stories that matter, with a builder's perspective. Every Thursday.