Here’s what we have for you today:
• The balance sheet
• Biking around
• Energy bundle
SoftBank’s record loss
2023 slump: The company stated that its Vision Fund segment lost 4.3 trillion Japanese yen ($32 billion) for its fiscal year that ended in March 31,2023, and reported a loss on investments at its Vision Funds of 5.28 trillion Japanese yen (approximately $38.8 billion).
Cutting down: To minimize loss, SoftBank has been selling down stakes in Alibaba and ride-hailing company Uber.
Future prospect: The company is now looking toward artificial intelligence as the next investment opportunity.
Peloton breaking apart
Breaking point: In May 2023, Peloton recalled around 2.2 million of its most popular bike model, saying that the machine was likely to break at one of its most critical points (the seat).
The hurt: The Bike model known as PL-01, which the company described as the original bike sold between 2018 and 2023 had received 35 reports out of the 2.16 million units sold regarding its bike seats breaking off completely during use (13 reported injuries).
The foreshadow: Peloton called this recall “voluntary” (coming after the company paid the US CPSC $19 million over allegations it ignored issues with its Tread+ treadmill, which was tied to a six-year-old’s death from 2021).
Microsoft doubling down on fusion energy
The dual: Microsoft and Helion, are teaming up to make fusion-produced energy viable for commercial application.
Partnership: The agreement from the pair outlines a plan for Helion to provide at least 50 megawatts of power for Microsoft by 2028.
The initiative: The effort is intended to “advance the market to establish a new, efficient method for bringing more clean energy to the grid, faster” according to Brad Smith, Microsoft vice chair and president.
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