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SoftBank Posts $16.6B Q2 Profit Driven by OpenAI Gains, Exits Nvidia Stake
SoftBank Posts $16.6B Q2 Profit Driven by OpenAI Gains, Exits Nvidia Stake
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SoftBank Group Corp. reported a staggering ¥2.5 trillion ($16.6 billion) net profit for Q2, more than doubling year-over-year results. The windfall was primarily fueled by valuation gains from its strategic investments in OpenAI, underscoring the conglomerate's growing influence in artificial intelligence.
In a surprise move, SoftBank liquidated its entire Nvidia position, realizing approximately $5.8 billion in proceeds. The timing of the divestment raises questions about the firm's outlook on semiconductor equities amid the AI boom.
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