AsianFin -- SoftBank Group (SFTBY) will slash nearly 20% of its global Vision Fund workforce as founder Masayoshi Son redirects resources toward large-scale artificial intelligence investments in the United States, Reuters reported.

The job cuts mark the third round of layoffs at SoftBank’s flagship investment arm since 2022. Vision Fund employs more than 300 people worldwide. Unlike earlier rounds, which followed steep losses, the latest reductions come on the heels of the fund’s strongest quarterly performance since June 2021, lifted by gains in public holdings including Nvidia and South Korean e-commerce firm Coupang.