SoftBank books $4.2 billion gain on OpenAI bet, boosting its Vision Fund [MSNBC.com]
SOFTBANK GRP UNSP/ADR (SFTBY)
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softbank.jp/en/corp/irinfo/presentations
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Source: MSNBC.com
In this articleSoftBank CEO Masayoshi Son and Open CEO Sam Altman attend an event to pitch for businesses in Tokyo, Japan Feb. 3, 2025.Kim Kyung-Hoon | ReutersThe Japanese giant said it made a $4.2 billion gain on the value of its Open investment in its fiscal third quarter, which runs to the end of December, offsetting losses stemming from the share price declines of Coupang and Chinese ride-hailing app Didi.The company also said investment losses were impacted by a markdown in its stake in TikTok creator ByteDance.This helped SoftBank Group book fiscal third-quarter net profit of 248.6 billion yen ($1.6 billion), which missed analyst estimates, but was a reversal of the loss seen in the same period last year.With the Vision Fund, SoftBank has invested in companies it believes will be category winners, seeking toposition itself at the centerIn 2024, SoftBank founder Masayoshi Son said the world wasa decade away from artificial superintelligenceDuring a presentation on Thursday, Yos
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