Lates News

SoftBank Group Corp. reported a smaller-than-expected decline in quarterly net profit, largely benefiting from the rise in its chip-related investment portfolio, while the company is still awaiting further gains from its investment in OpenAI. The Tokyo-based technology investment firms net profit for the first fiscal quarter fell 18% to 347.3 billion yen (approximately $2.2 billion), as returns from its investments in chip manufacturers failed to offset the impact of declining valuations of startups. In comparison, the market had expected the company's net profit to be around 166 billion yen.