TOKYO, May 13: Japan's SoftBank Group said Wednesday its net profit quadrupled year-on-year in the 2025-2026 fiscal year, boosted by its investments in AI.
Tech investor SoftBank posted net profit of five trillion yen ($32 billion) for the fiscal year ending in March, compared with 1.15 trillion yen in the previous year.
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After suffering massive losses across its broad tech portfolio in recent years, SoftBank has turned things around by diving into the fast-growing artificial intelligence sector.
It announced in December that its stake in ChatGPT maker OpenAI was around 11 percent after completing the second stage of a $41 billion investment.
SoftBank's earnings often swing dramatically because it invests heavily in tech start-ups and semiconductor firms, whose stocks are volatile.
