SoftBank Group's Profit Boosted by OpenAI Investment Valuation Growth

SoftBank Group, a major player in technology investments, has reported a profit of 248.6 billion yen for the third fiscal quarter ending in December. According to Ming Pao, this marks a significant turnaround from losses in the previous year and represents the fourth consecutive quarter of profitability for the group, a feat not achieved since 2021. However, the profit was only about 30% of analysts' expectations. The valuation growth of OpenAI has been a key driver of SoftBank's financial performance. By the end of last year, this investment contributed a paper profit of $19.8 billion to SoftBank, effectively offsetting fluctuations in other business areas.