According to Odaily Planet Daily, benefiting from the investment boom in artificial intelligence, which boosted equity assets such as Arm, Japan's SoftBank Group achieved profits for the second consecutive quarter. SoftBank's quarterly net profit was 231.1 billion yen (US$1.5 billion), compared with a net loss of 57.6 billion yen in the same period last year. Analysts expected a net profit of 176.3 billion yen for the quarter. The Vision Fund reported a loss of 96.74 billion yen, lower than the expected profit of 185.14 billion yen.
SoftBank is regaining its footing as Son makes large investments in artificial intelligence and semiconductors. In recent years, the Vision Fund has quietly sold or written down billions of dollars worth of its listed stock holdings as it adjusts its business focus, bringing SoftBank's cash reserves to $2 trillion at the end of March.
