SoftBank to Get More Aggressive in AI After Profit, Asset Sales
- SoftBank CFO says its balance sheet may be too conservative
- SoftBank Vision Fund reported a surprise loss of ¥96.7 billion
WATCH: SoftBank announced plans to get more aggressive in artificial intelligence and other fields after the Japanese technology-conglomerate posted better-than-expected profit for the second quarter.
Source: BloombergSoftBank Group Corp. laid out plans to get more aggressive in artificial intelligence and other fields, after reporting a second quarter of profit and a surge in the value of assets including Arm Holdings Plc.
The Tokyo-based company earned a better-than-expected net income in the March quarter, helped by investment gains at the holding company and on derivative contracts. A surge in Arm’s stock since its initial public offering last year helped lift SoftBank’s net asset value to a record ¥27.8 trillion ($178 billion), almost double the total a year earlier.