SoftBank Vision Fund posts $4.8 billion gain to drive second straight quarter of group profit

Core Insights - SoftBank Group reported a fiscal first-quarter profit of 421.8 billion yen ($2.87 billion), exceeding the expected 127.6 billion yen, marking the second consecutive quarter of profit for the company [2][3] - The Vision Funds segment saw a value increase of $4.8 billion, with a profit of 451.4 billion yen in the quarter, contrasting with a loss in the same period last year [3] Financial Performance - The profit for the quarter ended June represents a significant turnaround from a loss of 174.28 billion yen in the same period last year [2] - SoftBank's recent financial performance is bolstered by gains from older investments in companies like Alibaba, T-Mobile, and Deutsche Telekom [4] Strategic Investments - The company is heavily investing in AI, leading a $40 billion funding round for OpenAI and awaiting the closure of a $6.5 billion acquisition of AI chip firm Ampere Computing [3] - SoftBank is also a key player in the $500 billion Stargate project in the U.S., which focuses on building data centers and AI infrastructure [4]