The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← SoftBank

Capital · in

new commitments — leading OpenAI ~$40B round (2025) + $19B Stargate; VF1 external LPs PIF $45B / Mubadala $15B / Apple (2017); VF2 largely self-funded

high confidence · as of 2026-07-26 · about SoftBank

Sourced figures 2


the working

Threads 6

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