SoftBank's Remarkable Turnaround: Profits Surge Over 15% Thanks to Arm and AI
TL;DR Summary
SoftBank Group's shares surged over 15% after the Japanese investment firm posted its first quarterly profit in four quarters, driven by strong earnings from its Vision Fund and its tech investment arm, Arm, which is benefiting from the AI boom. The firm's net income for the December quarter far exceeded estimates, and its shift from an Alibaba-focused to an AI-focused portfolio has been highlighted, with its stake in Alibaba nearly zero and Arm's share in its asset portfolio rising to 32%.
- SoftBank shares extend their surge, pop more than 15% on earnings beat CNBC
- SoftBank Swings to Profit and Refocuses Its Strategy Around Arm Bloomberg
- SoftBank Returns to Health With an AI Bump The Wall Street Journal
- Softbank posts a $6.4 billion quarterly profit, its first in over a year, thanks to Arm, DoorDash and a surprise T-Mobile windfall Fortune
- SoftBank can get an Arm up from venture capital's weakness Financial Times
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