SoftBank's precise bet on NVIDIA and TSMC, with a Q1 net profit far exceeding expectations at $2.9 billion, further stocking up ammunition for AI investments.

According to the Chitong Finance APP, SoftBank achieved higher-than-expected profits in the first quarter, thanks to its investments in companies such as Nvidia (NVDA.US) and other startups. The company reported a net profit of 421.82 billion yen (approximately 29 billion US dollars) for the first quarter ending on June 30, more than twice the average analyst expectation. The profitable Vision Fund of 451.39 billion yen became the biggest driving force for profits, benefiting from the recovery in the technology industry valuations and investment returns in companies such as Coupang, Auto1, Symbotic, and Swiggy.