In the fiscal second quarter, SoftBank reported a net loss of 1.12 trillion yen, a stark contrast to the net profit of 2.5 trillion yen from the same period last year.
Revenue for the quarter reached 2.22 trillion yen, exceeding LSEG estimates of 2.02 trillion yen, and reflecting a 13.3% increase over the first half of the fiscal year, driven by growth in telecommunications and AI computing sectors. However, the company faced a 597.2 billion yen loss over six months due to changes in procurement for AI data center projects in the U.S.
The Vision Fund segment experienced a significant downturn, posting a loss of 81.58 billion yen compared to a profit of 2.38 trillion yen a year prior. Despite a $1.3 billion gain from ByteDance, the overall investment performance was negatively impacted by declines in publicly traded companies like Coupang and Grab.
SoftBank's cumulative investment in OpenAI reached $54.6 billion, with a fair value of $99.6 billion, indicating a cumulative gain of $45 billion. Additionally, SoftBank announced plans to invest $1.85 billion in AI infrastructure in Malaysia, aiming for at least five gigawatts of AI computing capacity in the long term.
The rise in SoftBank's shares, despite the losses, reflects investor optimism linked to the recovery of Asian tech stocks