SoftBank swings to $7 billion net loss in second quarter as tech selloff weighs on results
SoftBank Group announces fiscal second-quarter results for the year ending March 31, 2027.
SoftBank reported a fiscal second-quarter net loss of 1.12 trillion yen ($7 billion) on Tuesday.
SoftBank shares closed 13.9% higher on Tuesday. The gains came as Asian technology stocks, including Samsung Electronics and SK Hynix, rose following an overnight rebound on Wall Street.
SoftBank has made OpenAI a major focus of its AI investment strategy. The Japanese conglomerate completed a $30 billion follow-on investment in the ChatGPT maker in October, bringing its total investment to $64.6 billion and its ownership stake to approximately 13%.
Ahead of its earnings release, SoftBank Group announced on Monday plans with Grab and Malaysia's PETROS to commit a combined $1.85 billion in initial capital to develop AI infrastructure in Malaysia, with a long-term target of at least five gigawatts of AI computing capacity.
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