SoftBank Profit Triples to $11.6 Billion on OpenAI Gains
SoftBank Group reported a net profit of 1.83 trillion yen for the January to March quarter as gains from its OpenAI stake bolstered earnings. The Vision Fund unit recorded 3.1 trillion yen in gains during the period while the group liquidated 16.25 billion dollars in T-Mobile shares.
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SOFTBANK GROUP CORP reported a net profit of 1.83 trillion yen ($11.60 billion) for the January-March quarter as AI investment gains surged. The result more than tripled the profit from the previous year, marking the company's fifth consecutive quarterly profit. The Vision Fund investment arm booked an OpenAI-driven gain of 3.1 trillion yen during the quarter.
