Driven by the surge in AI valuations, SoftBank's second quarter net profit soars

Money10 Data reports on November 11th that SoftBank Group announced its financial results on Tuesday, with a net profit of 2.5 trillion yen (approximately $162 billion) for the second fiscal quarter, far exceeding analysts’ average estimate of 418.2 billion yen. The Vision Fund’s startup investment division achieved a profit of 2.38 trillion yen. Additionally, SoftBank announced on Tuesday that it will conduct a 1-for-4 stock split starting January 1st. The company’s second-quarter profit saw an unexpected significant increase, driven by the rise in technology stocks boosting the value of its holdings in companies like Nvidia and Intel, which underscores SoftBank CEO Masayoshi Son’s continued confidence in artificial intelligence. Son’s company currently has investments in some of the hottest AI companies globally: OpenAI, Oracle, and Nvidia. These holdings have resulted in unrealized gains and contributed to a 78% surge in its stock price during the quarter ending in September, marking the best performance since the quarter ending December 2005.