It's 5AM in New York City. Good morning. I'm Vonnie Quinn with your Bloomberg Brief.Let's get you set up for the day. Traders paring back rate cutbacks following that payrolls report. Jobless claims up next.Stocks recovering from another scare trade while anthropic inching closer to a deal that would value the farm at $350 billion. And midterm anxieties rise for President Trump as the House passes a bill targeting his levies on Canadian imports. So futures are pointed higher today.Now, yesterday, we had ano ...

Group 1 - The company reported a net profit of 248.59 billion yen (approximately 1.6 billion USD) for the third fiscal quarter, exceeding analyst expectations of around 857 billion yen, marking its fourth consecutive profitable quarter and the first since 2021 [1][2] - SoftBank has invested over 30 billion USD in OpenAI, holding an 11% stake as of December last year, and is negotiating an additional investment of up to 30 billion USD, which could raise OpenAI's valuation to approximately 750 billion to 830 billion USD [1][2] - The estimated investment return for SoftBank in OpenAI is around 19.8 billion USD as of December [2] Group 2 - SoftBank holds approximately 90% of shares in chip design company Arm Holdings Plc, linking its stock performance closely to the performance of ChatGPT against competitors like Google's Gemini and Anthropic's Claude [2] - The company is increasing investments in other areas of the artificial intelligence ecosystem, with founder Masayoshi Son aiming to play a more significant role in shaping the future of technology [1][2]

🚨MONEY: SOFTBANK MADE $4.2 BILLION FROM INVESTMENT IN OPENAIJapanese financial giant, SoftBank, recorded a $4.2 billion gain in Q4 2025, from its investment into @Sama's @OpenAI.In total, it has made $19.8 billion from the investment, owning an 11% stake in the AI company. https://t.co/DWrA2u0kzT ...

专题：聚焦美股2025年第四季度财报 日本科技与电信巨头软银集团周四表示，得益于对 OpenAI 等企业的投资开始兑现收益，公司在 2025 年第四季度重新实现盈利。 软银集团公布，2025 年 10—12 月当季实现利润2486 亿日元（约合 16.2 亿美元），扭转了去年同期亏 损 3690 亿日元的局面。 当季销售额增长 8%，至1.98 万亿日元（约 129 亿美元）。 总部位于东京的软银集团于 10 月以58 亿美元出售了所持英伟达股份，这与其聚焦人工智能的战略方向 一致。 软银表示，已向 ChatGPT 开发者 OpenAI 累计投资近350 亿美元，持股比例约 11%，这笔投资带来了可 观的投资收益。 在其他投资方面，软银集团去年以65 亿美元收购了美国半导体设计公司 Ampere，使其成为旗下全资美 国子公司。 软银另一大布局领域是机器人。公司去年与 ABB 达成协议，以53.75 亿美元收购其机器人业务，该交 易仍需获得欧洲、中国、美国等监管机构批准。 截至 12 月的前 9 个月，软银集团实现利润3.17 万亿日元（约 207 亿美元），约为上年同期的 5 倍；前 9 个月销售额小幅增长近 ...

Core Viewpoint - SoftBank reported a $4.2 billion gain from its investment in OpenAI during the last quarter, highlighting the significant financial impact of its 11% stake in the company [1]. Group 1: Financial Performance - The $4.2 billion gain reflects the valuation surge of OpenAI, which reached a $500 billion valuation following a secondary share sale of $6.6 billion in October [1]. - SoftBank's participation in the secondary share sale contributed to the increased valuation of OpenAI, indicating a circular relationship between the investment and valuation [1]. Group 2: Investment Strategy - SoftBank is actively pursuing investments in artificial super intelligence, positioning itself as a key player in the tech investment landscape [1].

Group 1 - SoftBank Group turned a profit in the third fiscal quarter, reporting a net profit of 248.59 billion yen (approximately $1.6 billion), despite falling short of analyst expectations of around 857 billion yen [1] - The company's investment in OpenAI yielded a profit of $4.2 billion, offsetting losses from the decline in Coupang's stock price, marking the fourth consecutive quarter of profitability for SoftBank and its first since 2021 [1] - As of December, SoftBank has invested over $30 billion in OpenAI, holding an 11% stake in the company, which is now its largest holding [2] Group 2 - SoftBank is negotiating to reinvest up to $30 billion in OpenAI, potentially raising the company's valuation to between $750 billion and $830 billion [2] - Analysts estimate that OpenAI accounts for approximately 30% of SoftBank's net asset value, highlighting its significance in the company's portfolio [2] - The company has also increased its investments in the AI ecosystem, including a $3 billion agreement to acquire DigitalBridge Group Inc. and plans to build data centers in the U.S. with partners [3] Group 3 - SoftBank has created a new business unit called "AI Computing," which will include its chip design company Arm and two other semiconductor companies it has acquired [3] - To raise funds, SoftBank has further reduced its stake in T-Mobile US and increased its financing loan limits based on its mobile business [3] - Standard & Poor's Global Ratings has warned that the accelerated pace of investments and the significant drop in Arm's stock value are putting pressure on SoftBank's credit rating [4]

Core Insights - SoftBank Group reported a net sales of 5.72 trillion yen for the first three fiscal quarters ending December 31, 2025, representing a year-on-year increase of 7.9% [1] - The net profit surged to 3.73 trillion yen, marking a significant year-on-year growth of 253%, with diluted earnings per share at 552.86 yen [1] - Total investment income reached 4.22 trillion yen, up 94.5% year-on-year, with returns from the investment in OpenAI contributing nearly 2.8 trillion yen [1] Financial Performance - For the third fiscal quarter, net sales were 1.98 trillion yen, reflecting an 8.2% year-on-year increase, surpassing market expectations of 1.96 trillion yen [1] - The net profit for the third quarter was 413.1 billion yen, a turnaround from a net loss of 179.68 billion yen in the same period last year [1] - Total investment income for the third quarter was 293.68 billion yen, with the SoftBank Vision Fund generating 179.74 billion yen in returns [1]

Core Viewpoint - SoftBank reported a net profit of 248.6 billion yen ($1.62 billion) for the October-December quarter, marking its fourth consecutive profitable quarter, compared to a net loss of 369 billion yen in the same period last year, largely driven by the rising valuation of its investment in OpenAI [1][6]. Financial Performance - The quarterly net income was projected by five analysts to range between a gain of 1.1 trillion yen ($7.07 billion) and a loss of 480 billion yen [2]. - In the nine months leading to December, OpenAI contributed 2.8 trillion yen to SoftBank's investment gains [2][6]. Investment in OpenAI - SoftBank has invested over $30 billion in OpenAI, acquiring approximately 11% of the company, positioning itself as a significant player in the competitive landscape of large language models [2][6]. - OpenAI is reportedly seeking an additional capital injection of $100 billion, with SoftBank, Amazon, and Nvidia as potential investors at a valuation of $830 billion [3][6]. Funding Strategies - To finance its investments, SoftBank has engaged in asset sales, bond issuance, and loans backed by its holdings, including chip designer Arm [3][6]. - The company has sold its $5.8 billion stake in Nvidia and part of its T-Mobile stake for $12.73 billion between June and December of the previous year [4][6]. Financial Maneuvering - SoftBank has expanded its margin loan using shares in Arm from $13.5 billion to $20 billion and increased the borrowing limit against its shares in its domestic telecom unit, SoftBank Corp, from 800 billion yen to 1.2 trillion yen [4][7]. - The heavy exposure to OpenAI has led to SoftBank being viewed as a publicly traded proxy for the U.S. firm, raising concerns about its financial stability [3][6]. Market Reaction - SoftBank's shares rose by 2.4% in a flat market prior to the earnings announcement [5][7].

Core Viewpoint - SoftBank reported a net profit of 248.6 billion yen ($1.62 billion) for the October-December quarter, marking its fourth consecutive profitable quarter, compared to a net loss of 369 billion yen in the same period last year, driven by the rising valuation of its investment in OpenAI [1][9] Financial Performance - The quarterly net income was projected by five analysts to range between a gain of 1.1 trillion yen ($7.07 billion) and a loss of 480 billion yen [1][9] - In the nine months leading to December, OpenAI has contributed 2.8 trillion yen to SoftBank's investment gains [2][9] Investment in OpenAI - SoftBank has invested over $30 billion in OpenAI, acquiring approximately 11% of the company, positioning itself as a significant player in the competitive landscape of large language models [4][9] - OpenAI is reportedly seeking an additional capital injection of $100 billion, with SoftBank, Amazon, and Nvidia as potential investors at a valuation of $830 billion [5][9] Funding Strategies - To finance its investments, SoftBank has resorted to asset sales, bond issuance, and loans secured by its other holdings, including chip designer Arm [5][9] - The company has sold its $5.8 billion stake in Nvidia and part of its T-Mobile stake for $12.73 billion between June and December last year [6][9] - SoftBank has increased its margin loan using shares in Arm to $20 billion from $13.5 billion and raised the borrowing limit against its shares of SoftBank Corp to 1.2 trillion yen from 800 billion yen [6][9] Market Position and Competition - OpenAI, once the leading entity in large language models, is facing rising operational costs amid increasing competition from companies like Alphabet [7][10] - SoftBank's shares rose by 2.4% in a flat market prior to the earnings announcement [10]

Core Insights - SoftBank reported a $2.4 billion gain in its Vision Fund for the December quarter, driven by an increase in the value of its investment in OpenAI, which helped mitigate losses from other investments [1][2] - The Vision Fund's strategy focuses on investing in AI companies that are expected to be category leaders, positioning SoftBank at the forefront of technological development [1] - SoftBank has made a significant investment of approximately $40 billion in OpenAI, which is considered one of its core investments [2] Company Performance - SoftBank's shares experienced a surge this week, attributed to strong results from its telecommunications unit and a rise in the stock price of Arm, another key investment [2]