New Delhi:- SoftBank is getting ready to invest more in AI, but they recently reported consecutive quarterly losses. They also continue to lose money in their existing investments.

SoftBank's investment funds, including Vision Fund 1 and 2 and its Latin American fund, experienced a loss of 13 billion yen ($91 million) in the latest quarter. That is a much smaller loss compared to the 2,919 billion yen loss last year ($20 billion). However, when you add up the losses from all three funds as of June 30, the total is still $6. 3 In simple words, SoftBank Group had a big loss of 477. 6 billion yen ($3. 3 billion) this quarter, which surprised analysts because they thought the company would make a profit.

"Our CFO, Yoshimitsu Goto, said today that we are being cautious and taking our time to resume investment activities. He also mentioned that we will continue to prioritize the AI trend. "

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The company announced that it has made promises to invest a total of $166. 2 billion in Vision Funds 1 and 2, as well as its LatAm fund. The cost of buying something was $146. 6 billion, but it is now worth $140. 3

SoftBank reported that its Vision Fund 1 and 2 had losses of approximately 38. 749 billion yen and 46. 860 billion yen for the quarter. However, the LatAm fund gained around 47. 496 billion yen and other investments gained 25. 070 The Latin American business received a big increase in profits when Visa bought Pismo, a company that SoftBank invests in, for $1 billion in June.

SoftBank lost a lot of money in the last quarter. This was mainly because the value of its investments in Alibaba, Deutsche Telekom, and T-Mobile US went down. In total, SoftBank lost 699 billion yen (around $4.9).

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SoftBank has made much more progress in its first, older Vision Fund. The company reported that out of the almost $90 billion fund it had, it made 94 investments. These investments are divided into three categories: around $37. 5 billion in private companies, approximately $20. 5 billion in public companies, and about $44. 2 billion from selling off investments. The value of its Vision Fund 2, which is worth $108 billion, is currently only $32.

VF2 is still new and will be ahead in investments in the future, he said. SoftBank mentioned that almost all of the companies it invests in have enough cash to cover their expenses for at least a year.

We are currently listening to the presentation to find out what SoftBank wants to share about Arm and its investments in AI. Once we have more information, we will add it to this post.

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Last week, the company's Japanese branch, also known as SoftBank, started a new business called SB Intuitions. It will create an advanced language system and AI services designed for Japanese businesses and customers. In July, the company invested a lot of money into Symbotic, which is a company that uses artificial intelligence and robots in warehouses. They also partnered with another company to create services for other businesses.

SoftBank has recently announced that it experienced significant financial losses in multiple consecutive quarters. They were expected to invest more in AI, but something unexpected happened.