SoftBank's profits unexpectedly soar, Masayoshi Son's AI investments achieve great success

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AIMPACT News, May 13 (UTC+8): SoftBank Group announced an unexpected jump in quarterly profit, mainly due to an increase in the valuation of its investment in OpenAI. In the fourth fiscal quarter, it recorded net profit of 1.83 trillion yen (116 million dollars), while analysts’ average expectation was 2952 billion yen. The rise in OpenAI’s valuation boosted SoftBank’s performance, while conflicts in the Middle East disrupted the market. During this period, the share prices of SoftBank’s major listed companies, including Coupang and Grab Holdings, all fell, affecting the company’s earnings. SoftBank founder Masayoshi Son has been cutting his stake and increasing SoftBank’s debt burden to fund his ever-expanding investments in artificial intelligence. SoftBank Group said that as of the end of March, its accumulated book gains from its investment in OpenAI totaled $4.5 billion. Masayoshi Son unveiled a grand plan involving investments of thousands of billions of dollars in data centers, and also pledged to increase SoftBank’s total investment in OpenAI to $6.46 billion by the end of the year. (Jin10) (Source: BlockBeats)

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