SoftBank posts $2.87 billion profit, credits Indian and AI investments
SoftBank just pulled off a major comeback, posting a net profit of $2.87 billion for the first quarter of FY2025—way up from last year's loss.
The Vision Fund's assets grew by $4.8 billion, mainly thanks to rising values in Indian startups and AI-focused companies.
Major investments in India and AI
Much of this boost came from better numbers at Indian companies like Swiggy and various fintechs.
On the AI front, SoftBank led a massive $10 billion round for OpenAI, with plans to add another $30 billion by year-end.
They're also looking to buy Ampere Computing for $6.5 billion and are backing Stargate—a huge project aiming to build generative AI data centers in the US.
Tech and AI boost stock price
SoftBank's stock has climbed 36% so far this year, adding $37 billion to its value.
Strong results from tech and AI investments kept momentum high across their entire portfolio.