SoftBank More Than Quadruples Annual Profit on $44 Billion in OpenAI Gains
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SoftBank Group reported a net profit of 5.003 trillion yen ($31.74 billion) for the fiscal year, more than quadrupling its previous year's profit, largely due to $43.9 billion in gains from its investment in OpenAI. The company plans to invest an additional $30 billion in OpenAI, bringing its total investment to $64.6 billion. SoftBank's Vision Funds business also saw a profit of Y6.445 trillion, a significant turnaround from a loss last year. The stock has risen 37% this year amid increasing AI demand.
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