The results, ⁠which mark ⁠SoftBank's fourth consecutive quarter in the black, compare to a net loss of 369 billion yen over the same period ​the previous year.SoftBank's earnings have been flattered by the rising valuation of its investment in ChatGPT-maker OpenAI, even as investors question the risk of overexposure to a single firm in the red-hot Five analysts surveyed by LSEG projected quarterly net income in a range between a gain of 1.1 trillion ​yen ($7.07 billion) and a loss of 480 billion yen.In the ...

软银集团（SBG）2月12日发布的2025年4～12月合并财报（国际会计准则）显示，净利润增至上年同期 的5倍，达到3.1726万亿日元。作为同期的数据，创下历史最高纪录。软银集团投资对象的美国OpenAI 的估值上升推高了利润。 同期财报计入了向OpenAI出资带来的2.7965万亿日元投资收益。愿景基金业务出资的滴滴出行的股价也 有所上涨…… 同期财报计入了向OpenAI出资带来的2.7965万亿日元投资收益。截至12月完成出资，软银集团累计向 OpenAI投资347亿美元，成为出资比例达到约为11%的大股东。 投资人工智能（AI）相关企业的软银的愿景基金业务的投资收益为3.9111万亿日元。OpenAI的估值上升 做出了贡献。此外，韩国最大的电商企业Coupang和中国最大网约车平台滴滴出行的股价也有所上涨。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com 营业收入比上年同期增 长8%，达到5.7192万亿日元。日本国内通信子公司软银的销售稳步增长。 按季度来看，10～12月的最终损益为盈利4131亿日元，与上年同期相比扭 ...

Summary of Key Points Industry Involved - The discussion revolves around the technology sector, specifically focusing on companies related to OpenAI and its products, including ChatGPT and Codex [1]. Core Insights and Arguments - A positive report from CNBC highlighted that OpenAI's CEO, Altman, indicated that ChatGPT has returned to a monthly growth rate of 10% [1]. - The report also noted that Codex experienced a week-over-week growth of 60% [1]. - DADavidson upgraded the rating for "OpenAI and its Orbit" in anticipation of model releases and fundraising efforts, which positively impacted stock prices [1]. - Following the upgrade, Softbank's stock rose by 6%, Oracle (ORCL) increased by 9%, AMD saw a rise of 3.6%, and Microsoft (MSFT) gained 3% [1]. - Despite fluctuations in the market prior to the two major catalysts (fundraising and model release), overall sentiment towards OpenAI remains positive [1]. Other Important but Potentially Overlooked Content - The market's reaction to the news indicates a growing confidence in OpenAI's future prospects and the potential for continued growth in the AI sector [1].

Core Viewpoint - SoftBank Group is expected to report significant gains from its investment in OpenAI, with a focus on how it will fund its substantial expenditures in the AI sector [1][4]. Investment in OpenAI - SoftBank has invested over $30 billion in OpenAI, increasing its stake to approximately 11%, and is negotiating to invest up to an additional $30 billion in the latest funding round [1][4]. - Analysts express concerns about SoftBank's high exposure to OpenAI, viewing it as a potential substitute for the company's public listing, which raises concentration risk [1][4]. Financial Performance Expectations - BTIG analyst estimates that SoftBank's $22.5 billion investment in OpenAI from December last year could yield $4.45 billion in investment gains [5]. - Analysts predict SoftBank's quarterly net profit could range from a profit of 1.1 trillion yen ($7.07 billion) to a loss of 480 billion yen [5]. Funding Sources and Financial Strategy - SoftBank has sold high-liquidity assets, including $5.8 billion in NVIDIA stock and part of its T-Mobile shares, raising $9.17 billion to fund its AI investments [6]. - The company's debt levels have increased, with the loan-to-asset ratio potentially rising to 21.5% by the end of December, up from 16.5% three months prior [6]. - Despite being rated as non-investment grade by S&P, SoftBank has some financial buffer, including $35 trillion yen in cash and cash equivalents as of September [6]. Competitive Landscape - The demand for investment in OpenAI remains strong, with last year's $40 billion financing round being oversubscribed, and companies like Amazon and NVIDIA negotiating to participate in the latest funding round [7]. - OpenAI's growth prospects and revenue expectations have become more aligned with its competitors, contrasting its previous status as a dominant player in the AI sector [7].

Market Overview - Asian stocks ended mostly higher, driven by post-election optimism in Japan and a strong rebound in the sector [1] - The U.S. dollar index eased following reports of Chinese regulators limiting U.S. Treasury bond holdings [1] - Oil prices were subdued after a previous rise of over 1 percent due to a U.S. advisory warning of potential supply disruptions [1] Regional Indices - China's Shanghai Composite index increased by 0.13 percent to 4,128.37, fueled by stimulus expectations and investor enthusiasm for artificial intelligence [2] - Hong Kong's Hang Seng index rose by 0.58 percent to 27,183.15, led by gains in pharma and tech stocks [2] - The Nikkei average surged by 2.28 percent to 57,650.54, reaching a new record high amid rising equities and a recovering yen [3] - The broader Topix index settled 1.90 percent higher at 3,855.28, with expectations of increased government spending and tax cuts [3] Company Performance - SoftBank Group's stock soared by 10.7 percent ahead of its earnings results due on Thursday [4] - Furukawa Electric's shares jumped nearly 23 percent on robust earnings [4] - Seoul's Kospi average finished marginally higher at 5,301.69, with anticipation of U.S. retail sales, jobs, and inflation data that may influence Federal Reserve policy [4] Other Markets - Australian markets ended little changed after a relief rally, with software and data center stocks attracting fresh demand while healthcare stocks underperformed [5] - New Zealand's S&P/NZX-50 index rose by half a percent to 13,513.68 [5] - U.S. stocks ended on a firm note, with tech stocks rebounding from previous concerns regarding AI spending [5] U.S. Market Highlights - The Dow inched up marginally to reach a new record ahead of key earnings and economic data [6] - The tech-heavy Nasdaq Composite climbed by 0.9 percent, while the S&P 500 advanced by half a percent [6]

Group 1 - SoftBank Group Corp's shares increased over 10% following its telecom arm, SoftBank Corp, raising its full-year profit outlook and positive sentiment around Arm Holdings' AI exposure [1] - For the first nine months of fiscal 2025, SoftBank Corp reported an 8% revenue increase to 5.2 trillion yen and an 8% rise in operating income to 884 billion yen, marking a record for the period [1] - The telecom subsidiary revised its full-year revenue forecast to 6.95 trillion yen from 6.7 trillion yen and increased its operating income target to 1.02 trillion yen, indicating steady execution towards fiscal 2025 goals [2] Group 2 - The consumer business saw a modest revenue gain of 3%, with segment income rising by 6%, despite a loss of 100,000 smartphone subscribers in the third quarter due to a tightened customer-acquisition policy [3]

Market Overview - Japanese and South Korean stock markets opened higher, with the Nikkei 225 index rising over 2%, reaching a new historical high, and SoftBank Group increasing by over 10% [1][13] - The Korean Composite Index rose by 0.71%, with Hyundai Motor gaining over 2% [2][14] Japanese Election Impact - The ruling coalition of the Liberal Democratic Party and the Japan Innovation Party secured a majority in the recent Japanese House of Representatives election, leading to expectations of reduced obstacles for the government's economic agenda [4][16] - Following the election results, the Japanese yen and government bonds faced selling pressure, with the yen trading at 155.9 yen per dollar and bond yields reaching record highs [4][16] Economic Policy and Debt Concerns - The government under Prime Minister Fumio Kishida advocates for large-scale fiscal expansion and tax cuts, which necessitates issuing more government bonds, leading to increased supply and downward pressure on bond prices [5][17] - The latest supplementary budget for fiscal year 2025, approved by the Japanese Diet, is the largest since the pandemic, with a 30% increase compared to the previous year's budget [6][18] Fiscal Deficit and Economic Outlook - Japan is projected to have a fiscal deficit of approximately 800 billion yen (about 5.1 billion USD) for the upcoming fiscal year, which is the smallest deficit since 2001 but contrasts with earlier expectations of a surplus [7][18] - Concerns are rising about Japan's long-term fiscal sustainability, with the potential for increased debt leading to a loss of confidence in Japanese government bonds [6][19] Inflation and Wage Dynamics - Japan's GDP contracted by 1.8% year-on-year in the third quarter, indicating a return to negative growth, while inflation remains persistent, with core CPI rising by 3.0% year-on-year [10][20] - Real wages in Japan have decreased by 1.3% year-on-year, marking the fourth consecutive year of decline, which is limiting consumer spending [10][21] Central Bank Policy and Future Prospects - The Bank of Japan faces a dilemma between maintaining low interest rates to stimulate the economy and addressing inflationary pressures from a weakening yen [11][22] - The potential for an interest rate hike in April is contingent on the outcomes of the spring labor negotiations, which could influence wage growth and economic stability [12][22]

记者丨胡慧茵 编辑丨李莹亮 2月10日，日韩股市再度高开，截至9:30，日股涨幅扩大，日经225指数涨超2%，再创历史新 高，软银集团大涨超10%。 韩国综合指数涨0.71%，权重股方面，现代汽车涨超2%。 日本众议院选举结果出炉，日元日债再度承压。 新华社2月9日消息，在8日举行的日本众议院选举中，由自民党和日本维新会组成的执政联盟 获得过半数议席。有市场分析指，这一结果为日本政府推行其经济议程减少障碍。 受选举结果影响，日元、日债遭到抛售，2月9日，日元和日债双双下挫。截至发稿，日元兑美 元录得1美元兑155.9日元，日元近日先跌后涨。但日元仍然保持弱势。日债则遭遇抛售，2月9 日，5年期日本国债收益率升至1.725%，为2001年有记录以来的最高水平；10年期国债收益率 日内上涨3.24%，录得2.296%；20年期国债收益率上涨1.31%，报3.176%。截至发稿，部分有 所回落，5年期收益率下跌3.0个基点，至1.710%，10 年期收益率跌至2.256%。 中国国际问题研究院亚太所特聘研究员项昊宇向21世纪经济报道记者分析称，这种"日元跌、 日股涨、日债抛"的表现在市场预料之中，主要源于日本执政联 ...

Group 1 - SoftBank's stock price increased by over 6% on February 10 [1]

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