SoftBank Profit Soars on AI, Eyes U.S. Expansion

SoftBank Group Corp. reported its first annual profit in four years, posting a net income of approximately ¥1.15 trillion ($7.8 billion) for the fiscal year ended March, reversing a previous loss. The profit was driven by robust demand in artificial intelligence, which boosted tech valuations and chip sales, and significant investment gains from companies including ByteDance, DiDi Global, and Coupang. Quarterly profits surged 124% despite some losses in other holdings. SoftBank intensified its AI investments by leading a $40 billion funding round in OpenAI and acquiring U.S. chipmaker Ampere for $6.5 billion. Alongside OpenAI and partners, SoftBank announced plans for large-scale AI infrastructure projects in the U.S., including the Stargate data center venture. However, concerns persist over tech market volatility and the impact of U.S. tariffs on future growth.