SoftBank Charts New Direction Following WeWork Debacle

SoftBank Group founder Masayoshi Son and board director Rajeev Misra, who is also SoftBank Investment Advisers chief executive, are focused on saving the Vision Fund, whose bets on Uber Technologies and WeWork have been disastrous. Last week, SoftBank bailed out WeWork, whose value had dipped 80 percent below its peak, with $10 billion. The London-based private investment fund debuted two years ago, with the goal of raising $100 billion to invest in startups valued at $1+ billion, the so-called unicorns of Silicon Valley. Continue reading SoftBank Charts New Direction Following WeWork Debacle

GlobalFoundries Claims Taiwan Chip Giant Violated Patents

Chip manufacturer GlobalFoundries requested the U.S. International Trade Commission impose an import ban on Taiwan Semiconductor Manufacturing Company (TSMC), part of a multi-front attack. An import ban would impact iPhones, Lenovo laptops and other electronic devices. The company has also filed 25 complaints in courts in the U.S. and Germany, alleging that TSMC violated 12+ patents for chips and chipmaking methods. Apple, Google, Qualcomm, Cisco Systems, Nvidia, Broadcom, Xilinx, Lenovo and Motorola are also named in the suit. Continue reading GlobalFoundries Claims Taiwan Chip Giant Violated Patents

SoftBank to Lend Employees $20B to Invest in Vision Fund

SoftBank Group plans to lend up to $20 billion to its 400 employees to buy stakes in its second Vision Fund, following the first fund launched in 2017. That first $100 billion fund, which debuted in 2017, made big investments in Uber Technologies, WeWork, and Chinese ride-hailing company Didi Chuxing Technology, driving up their valuations. For the second Vision Fund, SoftBank chief executive Masayoshi Son may invest as much as $15 billion, and SoftBank could put in $38 billion, more than is typical for a fund sponsor. Continue reading SoftBank to Lend Employees $20B to Invest in Vision Fund