SoftBank Group Corp. achieved a 421.8 billion yen profit in the April-June quarter, rebounding from a previous loss due to successful investments in artificial intelligence. Quarterly sales increased by 7% to 1.8 trillion yen. The company has faced fluctuations in fortunes because of its diverse investment strategy through Vision Funds. Harvard executive Masayoshi Son focuses on the potential of AI. SoftBank's investments in Arm Holdings and Taiwan Semiconductor Manufacturing Co. have further benefited from the AI boom. The company is preparing for an IPO for PayPay, alongside successful IPOs for Chime and Etoro.
The era is definitely AI, and we are focused on AI," SoftBank senior executive Yoshimitsu Goto told reporters. "An investment company goes through its ups and downs, but we are recently seeing steady growth.
Quarterly sales at Tokyo-based SoftBank Group, which invests heavily in AI companies like Nvidia and OpenAI, rose 7% to 1.8 trillion yen ($12 billion), the company said Thursday.
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