Intel proves its worth with $8.2 billion SoftBank boost while OpenAI gains pause

SoftBank Group reported first-quarter profits that topped market expectations this week, driven by a massive $8.2 billion valuation gain on its stake in US chipmaker Intel. The surprise boost from Intel helped offset a quiet quarter for SoftBank’s artificial intelligence (AI) investments, where gains from ChatGPT maker OpenAI temporarily ground to a halt.According to CNBC, SoftBank reported a net profit of 347.3 billion Japanese yen (roughly $2.2 billion). While that figure represented an 18% decline year-over-year, it comfortably beat average analyst estimates of 120.23 billion yen.

Intel investment delivers big payoff