SoftBank Group 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.
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 IPO last year helped lift SoftBank’s net asset value to a record $178 billion – almost double the total a year earlier. That gives the company the financial wherewithal to go after new strategic investments, said SoftBank CFO Yoshimitsu Goto.
Founder Masayoshi Son is seeking $100 billion to bankroll a chip venture to compete with Nvidia.
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 IPO last year helped lift SoftBank’s net asset value to a record $178 billion – almost double the total a year earlier. That gives the company the financial wherewithal to go after new strategic investments, said SoftBank CFO Yoshimitsu Goto.
Founder Masayoshi Son is seeking $100 billion to bankroll a chip venture to compete with Nvidia.
