SoftBank’s $4.2bn OpenAI gain lifts quarterly profits as AI exposure deepens — company swings back to profitability in Q3 results

SoftBank reported a net income of $1.6 billion in its fiscal third quarter, a significant turnaround from the loss posted in the same quarter last year, largely attributed to a $4.2 billion gain from its stake in OpenAI. The company has invested over $34 billion in OpenAI and is in talks for further funding. SoftBank has reshaped its balance sheet by selling assets like Nvidia shares to focus on private AI platforms. The company's performance is increasingly tied to the valuation of OpenAI, which is crucial for its profitability. SoftBank is heavily investing in AI infrastructure and data centers, playing a leading role in the $500 billion Stargate project in the U.S. to scale AI infrastructure.