Technology
SoftBank’s Profit Beats Expectations With Boost From Chip Bets
Key Points
AI SoftBank’s Profit Beats Expectations With Boost From Chip Bets SoftBank Group Corp. reported a smaller-than-expected decline in quarterly net income, helped by a rally in its chip-stock holdings while it awaits further gains from its bets on OpenAI. The Tokyo-based tech investor’s net income fell 18% to ¥347.3 billion ($2.2 billion) in its fiscal first quarter after unrealized gains on its bets on chipmakers countered startup valuation declines. That compares with a market estimate of...
AI
SoftBank’s Profit Beats Expectations With Boost From Chip Bets
SoftBank Group Corp. reported a smaller-than-expected decline in quarterly net income, helped by a rally in its chip-stock holdings while it awaits further gains from its bets on OpenAI.
The Tokyo-based tech investor’s net income fell 18% to ¥347.3 billion ($2.2 billion) in its fiscal first quarter after unrealized gains on its bets on chipmakers countered startup valuation declines. That compares with a market estimate of about ¥166 billion, based on the average of four analysts polled.