Lates News

As of the end of June, SoftBank Group turned losses into gains for the quarter, boosted by gains from its holdings in NVIDIA and Coupang, providing further support for founder Masayoshi Son's plans in the field of artificial intelligence technology. SoftBank reported a net profit of 421.82 billion yen ($29 billion) for the first quarter, above the Bloomberg analysts' average expectation of 158.23 billion yen. The Vision Fund achieved a profit of 451.39 billion yen. Son is doubling down on his bets in hopes of seizing the opportunity of the booming development in artificial intelligence hardware investments. As part of this strategy, SoftBank has been increasing its stakes in companies like NVIDIA and TSMC while reducing holdings in some less relevant assets. SoftBank increased its stake in NVIDIA to over $3 billion as of the end of March, and the 46% increase in NVIDIA's stock in the three months ending in June benefitted SoftBank as an investor.