Signal #100804POSITIVE

SoftBank books $12 billion profit on OpenAI stake gains

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Technology investor SoftBank Group reported on Wednesday that its net ‌profit more than tripled to 1.83 trillion yen ($11.60 ‌billion) in the January-March quarter, as it booked gains on its ​investment in ChatGPT-maker OpenAI. It was SoftBank's fifth consecutive quarterly profit, with the Vision Fund investing arm booking an OpenAI-driven gain of 3.1 trillion yen in the quarter. SoftBank founder ‌and CEO Masayoshi Son ⁠is one of OpenAI's most enthusiastic backers, with the group saying its cumulative gains ⁠on the investment total $45 billion.

AI Stock Newsabout 3 hours ago
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SoftBank books $12 billion profit on OpenAI stake gains | Steek AI Signal | Steek