
SoftBank Profit Soars on BigâŊWinâŊfrom OpenAI Investment
âĒBy ADMIN
Related Stocks:SOBKY
Japanese investor SoftBank Group Corp. posted a staggering net profit of ÂĨ2.5âŊtrillion (around USâŊ$16.6âŊbillion) for the second quarter endedâŊSeptemberâŊ30, more than double the ÂĨ1.18âŊtrillion earned a year earlier.
The sharp jump was driven largely by valuation gains at its techâinvestment arm, SoftBank Vision Fund, which recorded a ÂĨ3.44âŊtrillion investment gain in the quarter â of which ÂĨ2.16âŊtrillion came from its stake in OpenAI Global LLC.
The result far exceeded analystsâ average estimate of roughly ÂĨ207âŊbillion.
The surge underscores SoftBankâs bold pivot into artificialâintelligence investment, even as some investors caution the market may be overheating.
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