SoftBank records $12 billion fourth quarter profit
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SoftBank Group reported a net profit of 1.9 trillion yen ($12.05 billion) for the January-March quarter, a significant increase from 517 billion yen a year earlier. This marks five consecutive quarters of profit, largely driven by its investment in OpenAI, which yielded a gain of 3.1 trillion yen. SoftBank plans to invest an additional $30 billion in OpenAI by 2026, totaling $64.4 billion for a 13% stake. To manage expenses, it has sold stakes in companies like T-Mobile and Nvidia and issued bonds backed by its holdings.
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