SoftBank reports strong quarterly profit as AI investments boost performance

SoftBank Group reported a net income of ¥1.18 trillion ($7.7 billion) for the latest quarter, a significant recovery from a net loss of ¥931 billion last year. This marks the company's biggest quarterly profit in two years. The Vision Fund gained ¥373 billion, driven by rising investments in India and China. Indian stocks have surged, aided by a strong IPO market, including successful listings from companies like Ola Electric and Brainbees Solutions. SoftBank has shifted focus towards generative AI investments, including a $500 million stake in OpenAI. The company's shares have risen nearly two-thirds in the past year, reflecting improved investor confidence after two years of losses.