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SoftBank reports $2.4b loss in Q3
SoftBank reported a 369 billion yen (US$2.4 billion) net loss for Q3, reversing a 950 billion yen (US$6.2 million) profit from the same period last year.
The loss was mainly due to a 309 billion yen (US$2 billion) shortfall in the Vision Fund, driven by declining valuations of public holdings like Coupang and Didi.
SoftBank is pushing a US$500 billion AI initiative, Stargate, with OpenAI, aiming to develop AI infrastructure despite Vision Fund volatility.
Recent SoftBank developments
| Timeline |
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11-Feb-2025 🌌 SoftBank eyes high-debt funding for Stargate AI project
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08-Feb-2025 💰 SoftBank to invest $40b in OpenAI at $260b valuation: sources
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07-Feb-2025 💻 SoftBank nears $6.5b deal to acquire chipmaker Ampere
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01-Feb-2025 🚀 SoftBank invests $50m in bitcoin miner for AI expansion
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30-Jan-2025 💼 SoftBank said to invest $25b in OpenAI
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| 29-Jan-2025 🤖 SoftBank may lead $500m round for Skild AI |
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