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SoftBank has fallen deep into the red, as the Japanese conglomerate prepares to ramp up investments in artificial intelligence.

The technology group tumbled to a 369.2bn yen (£1.9bn) loss in its third quarter, partly due to losses in its tech-heavy investment vehicles, Vision Funds. SoftBank invests in companies that it thinks have long-term potential, including start-ups so its financial performance can vary widely.