Softbank Vision Fund has not generated even 1% return in last 10 years. If OpenAl gains are not considered.

In the last 10 years Softbank Vision Fund investment has looked like this:

Total money invested: \~US$191.6 billion

Total cumulative gross gain: \~US$45 billion

OpenAI paper gain: \~US$45 billion

So, on the latest reported figures, OpenAl accounts for almost all of the cumulative net gain. Without it, the combined portfolio would be around break-even or slightly negative, depending on the exact reporting date, valuation marks, and accounting adjustments.