SoftBank records US$12 billion fourth-quarter profit

Technology investor SoftBank Group recorded a net profit of 1.9 trillion yen (US$12.05 billion) in the January-March quarter, it said on Wednesday.

The results compare to a net profit of 517 billion yen in the same period a year earlier.

SoftBank has now booked a net profit for five consecutive quarters as its mammoth investment in OpenAI pays off.

The Vision Fund unit, which holds SoftBank's stake in OpenAI, registered an investment gain of 3.1 trillion yen over the quarter.

The rising value of the ChatGPT-maker over multiple funding rounds over the past year has been the primary driver of SoftBank's performance.

SoftBank has pledged a further US$30 billion to OpenAI over the course of 2026, which would bring its total committed investment to US$64.4 billion for a stake of about 13 percent.

It has sold off stakes in holdings such as T-Mobile and Nvidia, issued bonds and taken out loans, backed by its holding of chip designer Arm and its domestic telecommunications arm SoftBank Corp, to cover its outgoings.

Reuters

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓