SoftBank's $16.6B profit surge thanks to AI investment
SoftBank just pulled in a massive $16.6 billion profit last quarter, blowing past expectations and more than doubling what they made this time last year.
The secret sauce? Their investment in OpenAI (yep, the folks behind ChatGPT) paid off big through their Vision Fund investments.
Vision Fund's gains drive profits
SoftBank's Vision Fund posted large investment gains that drove overall profits, with over half linked to their stake in OpenAI.
As AI tech keeps booming and stock prices rally, SoftBank is riding the wave—and seeing record highs.
AI impact on business
It's another sign that AI isn't just hype; it's influencing how companies make money.
Still, some investors are nervous about a possible "AI bubble," wondering if these huge gains can keep up long-term.
For now though, betting on AI is paying off in a big way for SoftBank.