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SoftBank projects $1.87b profit, focuses on AI strategy
SoftBank Group is expected to announce a quarterly profit of 287 billion yen (US$1.87 billion) on Tuesday.
This increase is attributed to the successful public listings of its portfolio companies.
However, a stronger yen is likely to negatively impact foreign currency-denominated earnings.
Significant are SoftBank’s potential plans to develop AI chips, possibly in collaboration with Arm and newly acquired chip manufacturer Graphcore.
The relationship with Arm yielded SoftBank US$43.2 million in revenue from intellectual property licensing last quarter.
Recent SoftBank developments
| Timeline |
|---|
05-Nov-2024 🚗 SoftBank develops AI system to assist autonomous vehicles
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01-Oct-2024 💰 SoftBank pours $500m into OpenAI
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20-Jun-2024 🚀 SoftBank’s Masayoshi Son set for ‘next big move’: report
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14-May-2024 🤖 SoftBank eyes up to $150m deals in India’s AI infrastructure space
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| 14-May-2024 💼 SoftBank to leverage $184b portfolio for AI push, Vision Fund CFO says |
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