SoftBank's finance chief Yoshimitsu Goto said during an earnings press conference on Tuesday that "nothing has really changed" with OpenAI and its restructure plan.
SoftBank Group shares rose as much as 3.7% in Tokyo on Tuesday after the tech investment giant reported a net profit of $3.49 billion for the three months to March, significantly outperforming analyst expectations of a loss of around $180 million. The stronger-than-expected result was driven by investment gains in tech and telecom holdings.
The Japanese company has been making bigger investments as tech stocks have risen thanks to enthusiasm over artificial intelligence.
Softbank's Vision Fund business posted a loss in the fiscal year ended March as it posted slowing gains at its massive tech investment arm.
It's been three months since SoftBank's Masayoshi Son and OpenAI co-founder Sam Altman promised during a White House briefing to swiftly deploy $100 billion, and raise that figure to $500 billion over the next four years.
SoftBank's lofty artificial intelligence ambitions are reportedly colliding with the harsh reality of tariffs. The Japanese conglomerate's plan to invest $100 billion in AI infrastructure in the United States has slowed, Bloomberg reported Monday (May 12), as risks related to White House tariffs have hindered financing discussions.
Japanese technology investor SoftBank Group is expected to book a quarterly net loss of 26.9 billion yen ($184.4 million) on Tuesday as early-stage tech startups fell out of favour and losses widened at major portfolio firms.
SoftBank Corp. (OTCPK:SOBKY) Q4 2024 Earnings Conference Call May 8, 2025 3:00 AM ET Company Participants Junichi Miyakawa - President & CEO Jun Shimba - COO Kazuhiko Fujihara - CFO Conference Call Participants Tomohisa Yamashita - Fuji Television Nancy Matsumoto - Business Insider Satoru Kikuchi - SMBC Nikko Securities Daisaku Masuno - Nomura Securities Kazuki Tokunaga - Daiwa Securities Operator Thank you very much for waiting. We will now begin SoftBank Corporation Earnings Results Presentation for the Fiscal Year-Ended March 31, 2025.
Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick and chair of brokerage Cantor Fitzgerald, is partnering with SoftBank , Tether and Bitfinex to create a multibillion-dollar bitcoin acquisition vehicle, the Financial Times reported on Tuesday.
Japanese technology investment group SoftBank Group plans to raise 600 billion yen ($4.10 billion) by issuing bonds to retail investors, it said in a filing on Monday.
Amir Anvarzadeh, market strategist at Asymmetric Advisors, discusses OpenAI's $40 billion funding round and the outlook for Japanese stocks.
Sam Altman's OpenAI has raised $40 billion in a funding round led by investment giant SoftBank as it looks to stave off competition like Elon Musk's xAI and China-based DeepSeek.