SoftBank Group reported a 124% jump in quarterly profit on resilient AI demand that’s supporting startup valuations and chip unit sales, a boost to its aggressive data center investment plans.
The Tokyo-based company reported net income of ¥517.18 billion ($3.5 billion) in its fiscal fourth quarter. It was helped by the Vision Fund, which swung to a profit of ¥26.1 billion.
The earnings come at a critical juncture for SoftBank as it plans to invest $30 billion in OpenAI while leading a $100 billion foray into building AI hardware in the U.S. Maintaining a healthy cash flow and balance sheet is key to securing the billions of dollars needed at minimum cost.
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