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Softbank major ARM win
Liam Gill
February 08, 2024
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SoftBank, led by Masayoshi Son, witnessed a remarkable financial turnaround with its investment in Arm, as the chip designer's shares surged by as much as 41% in after-hours trading (last night). This surge followed Arm's earnings report, which exceeded analysts' expectations, significantly boosting SoftBank's stake value by almost $16 billion. This gain is particularly notable considering SoftBank's previous investment challenges, including a substantial loss from its involvement with the now-bankrupt WeWork. Despite SoftBank's Vision Fund facing a $6.2 billion loss in the second quarter of 2023, primarily due to WeWork and other failed investments, the Arm success story marks a significant rebound. SoftBank acquired Arm in 2016 for $32 billion and, despite the venture arm's turbulent period, has seen the value of its shares in Arm rise from over $47 billion at the IPO last year to $87.4 billion post-earnings report. This shift in fortune comes after Son's strategy pivot from aggressive investments to a more defensive approach, followed by a renewed focus on AI-driven "offense" investments. However, due to a lock-up agreement, SoftBank cannot immediately capitalize on the Arm shares' value increase, with restrictions lifting in mid-March, 180 days post-Arm's stock market debut.
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