• SoftBank CEO Masayoshi Son acknowledged that the partnership with Saudi Arabia's Public Investment Fund (PIF) has not met expectations, particularly in terms of financial returns. Despite a significant investment of $45 billion from the PIF into SoftBank's Vision Fund, the company reported a net loss of ¥369.2 billion ($2.5 billion) for the fiscal third quarter, contrasting sharply with a profit of ¥950 billion in the same period the previous year. This has raised concerns about the effectiveness of SoftBank's investment strategy, especially as it has divested from several high-profile tech companies.

• The acknowledgment of insufficient returns comes amid a broader shift in SoftBank's investment strategy, moving away from aggressive venture capital bets towards more stable investments in sectors like artificial intelligence and semiconductors. Son's admission reflects the challenges faced by SoftBank in navigating a volatile market, particularly after significant losses in its Vision Fund. The company is now focusing on rebuilding its portfolio and enhancing returns for its investors, including the PIF, which has been a crucial backer in its ambitious investment plans.