软银投资：9成未上市，AI股影响成败

Group 1 - SoftBank Group plans to invest in OpenAI through its second fund starting September 2024, with an additional investment of $22.5 billion expected in 2025 [2][3] - The second fund's investment targets have increased from 157 companies to 279 over four years, with AI-related investments in the corporate services sector rising from 35 to 84 companies [3] - The total size of the second fund has been expanded from $67.8 billion to $101.8 billion, reflecting a strategic shift towards AI investments [3] Group 2 - OpenAI's valuation is projected to grow significantly, from $150 billion in September 2024 to $500 billion by October 2025, with a potential IPO in 2026 that could reach a valuation of $1 trillion [3] - The second fund primarily invests in unlisted AI companies, with Databricks expected to become a "Hectocorn" valued over $100 billion [5] - Among the IPOs in 2025, three fintech companies have performed poorly, with significant losses reported, highlighting the challenges faced by the fund [6] Group 3 - PayPay, a major smartphone payment company, is expected to go public in 2026, which could be crucial for SoftBank's second fund amid ongoing funding needs for AI investments [6]