• SoftBank’s $4.2bn OpenAI gain lifts quarterly profits as AI exposure deepens - company swings back to profitability in Q3 results Vision Fund divergence and expanding data center commitments show how SoftBank is aligning its capital with AI. • Get Tom’s Hardware’s best news and in-depth reviews, straight to your inbox. • You are now subscribed Your newsletter sign-up was successful SoftBank swung back to profitability in its fiscal third quarter, reporting net income of 248.6 billion yuan - roughly $1.6 billion - for the three months ending December. • These numbers, as reported by the Financial Times, represent a stark reversal from the 369 billion yuan (53.4 billion USD) loss the company posted in the same quarter last year. • This turnaround of the company’s fortunes was primarily driven by a $4.2 billion gain tied to its stake in OpenAI, which is part of a broader $17 billion in gains the company says it has recorded on the ChatGPT-maker in the financial year to date - strip out that contribution and the quarter would have looked very different. • Concentration by design SoftBank has invested more than $34 billion in OpenAI and is understood to be in talks to commit another $30 billion in a funding round that could push its valuation to $750 billion.
Article Summaries:
- SoftBank’s $4.2bn OpenAI gain lifts quarterly profits as AI exposure deepens - company swings back to profitability in Q3 results Vision Fund divergence and expanding data center commitments show how SoftBank is aligning its capital with AI. Get Tom’s Hardware’s best news and in-depth reviews, straight to your inbox. You are now subscribed Your newsletter sign-up was successful SoftBank swung back to profitability in its fiscal third quarter, reporting net income of 248.6 billion yuan - roughly $1.6 billion - for the three months ending December. These numbers, as reported by the Financial Tim
Sources: