SoftBank posts fourth straight quarterly profit of $1.6 billion on OpenAI gains
Japan’s SoftBank Group said on Thursday it logged a net profit of 248.6 billion yen ($1.62 billion) in the October-December quarter, boosted by the rising valuation of its investment in OpenAI.
The results, which mark SoftBank’s fourth consecutive quarter in the black, compare to a net loss of 369 billion yen over the same period the previous year.
SoftBank’s earnings have been flattered by the rising valuation of its investment in ChatGPT-maker OpenAI, even as investors question the risk of overexposure to a single firm in the red-hot artificial intelligence sector.
