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5d ago

SoftBank Posts Second Consecutive Quarterly Profit on Vision Fund Tech Gains

A ¥4.8 billion rise in Vision Fund value generated a ¥451 billion segment profit, fueling SoftBank’s leadership of a $40 billion OpenAI funding round.

FILE - The logo of Japanese mobile provider SoftBank is seen at its shop in Tokyo on June 14, 2018. (AP Photo/Shuji Kajiyama, File)
SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo
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Overview

  • SoftBank reported a ¥421.8 billion ($2.87 billion) net profit in Q1 FY25, topping analyst forecasts and marking its second straight profitable quarter.
  • The Vision Fund segment swung to a ¥451.4 billion profit as its portfolio valuation increased by $4.8 billion from the prior year.
  • The company is spearheading a $40 billion investment into OpenAI and is awaiting regulatory clearance on its proposed $6.5 billion acquisition of Ampere Computing.
  • SoftBank raised around $4.8 billion through T-Mobile US share sales to finance its expanding artificial intelligence investments.
  • To streamline its U.S. AI infrastructure push, SoftBank and OpenAI have scaled back the $500 billion Stargate initiative to a single data center scheduled for year-end completion.