Lates News

SoftBank Group announced on Tuesday that its net profit for the second quarter reached 2.5 trillion yen (approximately 16.2 billion US dollars), far exceeding analysts' average estimate of 418.2 billion yen. The Vision Fund's early-stage investment department achieved a profit of 2.38 trillion yen. In addition, SoftBank also announced on Tuesday that it will conduct a 1-for-4 stock split on January 1st. The company's unexpected significant increase in profit for the second quarter was driven by the rising technology stocks which boosted the value of its holdings in companies such as NVIDIA and Intel, ensuring SoftBank CEO Masayoshi Son's ability to continue betting on the artificial intelligence sector. Son's company currently has investments in several of the hottest AI companies globally, including OpenAI, Oracle, and NVIDIA. These holdings have led to an increase in book income and driven its stock price to soar 78% in the quarter ending in September, marking the best performance since December 2005.