Venture Capital Turns to Infrastructure

SoftBank Vision Fund will cut about 20% of staff and focus capital on Masayoshi Son’s giant AI projects, including the $500B 'Stargate' data‑center network in the U.S. This signals a pivot from diversified startup portfolios toward financing capital‑intensive AI infrastructure. — If top venture players become infrastructure financiers, energy policy, permitting, and industrial strategy—not just startup selection—will shape the future of tech.