SoftBank’s quarterly profits more than tripled, propelled by a $25bn surge in the value of its stake in ChatGPT maker OpenAI.
The Japanese tech conglomerate founded by Masayoshi Son said on Wednesday that net income for the three months to the end of March was ¥1.8tn ($11.6bn), vastly ahead of analysts’ expectations of ¥235.7bn, according to LSEG data.
The result helped annual profits come in at ¥5tn, more than quadruple last year’s result.
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