|
Quarterly sales at Tokyo-based SoftBank Group, which invests
heavily in AI companies like Nvidia and Open AI, rose 7% to 1.8
trillion yen ($12 billion), the company said Thursday.
SoftBank's loss in April-June 2024 was 174 billion yen.
The company's fortunes tend to fluctuate because it invests in a
range of ventures through its Vision Funds, a move that carries
risks.
The group’s founder Masayoshi Son has emphasized that he sees a
vibrant future in AI.
SoftBank has also invested in Arm Holdings and Taiwan
Semiconductor Manufacturing Co. Both companies, which produce
computer chips, have benefitted from the growth of AI.
“The era is definitely AI, and we are focused on AI,” SoftBank
senior executive Yoshimitsu Goto he told reporters. “An
investment company goes through its ups and downs, but we are
recently seeing steady growth.”
Some of SoftBank's other investments also have paid off big. An
example is Coupang, an e-commerce company known as the “Amazon
of South Korea,” because it started out in Seoul. Coupang now
operates in the U.S. and other Asian nations.
Goto said preparations for an IPO for PayPay, a kind of cashless
payment system, were going well.
The company has already held IPOs for Chime, a U.S. “neobank”
that provides banking services for low-credit consumers, and for
Etoro, a personal investment platform.
All contents © copyright 2025 Associated Press. All rights reserved
|
|
