SoftBank Group posts $2.87 billion net profit for April-June quarter
The result compared with a net loss of 174.3 billion yen for the same period a year earlier and the 127.6 billion yen average profit from three analyst estimates compiled by LSEG.
The Vision Fund investment unit posted an investment gain of 726.8 billion yen ($4.94 billion).
The results mark SoftBank's second consecutive quarter of profit and follow its first annual profit in four years when it was helped by a strong performance by its telecom holdings and higher valuations for its later-stage startups.
The results will be welcomed by investors as SoftBank has embarked on its biggest spending spree since the launch of its Vision Funds in 2017 and 2019, this time making mammoth investments in artificial intelligence companies.
Investors and analysts are awaiting updates on how these investments will be financed, the timeline for returns to materialise and whether assets will be sold to fund the new projects.
SoftBank is leading a $40 billion funding round for ChatGPT maker OpenAI. SoftBank has until the end of the year to fund its $22.5 billion portion, although the remainder has been subscribed, according to a source familiar with the matter.
It is also leading the financing for the Stargate project: a $500 billion scheme to develop data centres in the United States, part of its effort to position itself as the "organiser of the industry," founder Masayoshi Son said in June.
SoftBank has yet to release details on what kinds of returns its financing of the Stargate project could generate. The extent of third-party investment will determine what other financing tools, such as bank loans and debt issuance, it may have to deploy.
In July, SoftBank raised $4.8 billion by selling off a portion of its holding in T-Mobile.
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Indian Express
11 minutes ago
- Indian Express
In the pipeline: Japan desk at Invest UP, research tie-ups on semi-conductors, green hydrocarbons
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The delegation led by Khanna, which camped in Japan from July 20 to July 26, to showcase UP in different sectors at World Expo 2025 in Osaka, comprised Alok Kumar, Principal Secretary, Infrastructure and Industrial Development, Amit Singh, Secretary to Chief Minister and Vipin Kumar Jain, Special Secretary to Chief Minister. An official, who was part of the delegation, said their focus was on seeking collaborations in manufacturing, green energy, digital innovation as well as cultural heritage and promotion of One District One Product (ODOP) items. The second delegation led by Awasthi participated in strategic engagements in Tokyo, Osaka, and Yamanashi from July 27 to 31. 'During the visit to Yamanashi Prefecture, the delegation explored potential cooperation in green hydrogen production, aligning with Japan's Basic Hydrogen Strategy. 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Also, the UP government is eying investments in semi-conductor and electronic equipment manufacturing in the state and that the delegation during its interaction with the Japanese industry highlighted the state's semi-conductor, investment promotion and Foreign Direct Investment policies, it has been learnt. 'The delegation met Tokyo Electron Ltd (TEL), a global leader in semiconductor and electronics manufacturing equipment. During interactions, UP was showcased as an ideal destination for high-end manufacturing, R&D, and electronics assembly hub. Discussions focusing on logistics infrastructure in Noida and Greater Noida, R&D collaborations and workforce skilling took place,' the officials informed. The delegations also explored investments in the areas of food processing, data centres and EVs besides promoting Buddhist Circuit as a cultural tie-up between the two countries. The delegations met the representatives of Mitsui & Co. 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News18
an hour ago
- News18
UK's F-35B Fighter Jet Makes Emergency Landing In Japan, Months After Similar Incident In India
Last Updated: A British Royal Air Force F-35B fighter jet made an emergency landing at Japan's Kagoshima International Airport due to a technical glitch, similar to a recent incident in India. A British Royal Air Force F-35B fighter jet made an emergency landing at Japan's Kagoshima International Airport on Sunday after the pilot experienced a technical glitch mid-air, local media reported. According to Kyodo News, the flight operations were affected at the airport as the runway was closed for around 20 minutes following the incident. Officials at the Japanese airport said the incident occurred around 11:30 am (local time) when the pilot sought permission for an emergency landing due to a suspected equipment malfunction. The aircraft was moved to a taxiway for inspection. This is a second such incident in recent weeks involving a British F-35B fighter jet after one of the aircraft remained grounded in India for over a month. On June 14, an F-35B fighter jet, en route from the UK to Australia, made an emergency landing at Kerala's Thiruvananthapuram airport after the aircraft encountered a hydraulic system fault. The fighter jet was out on a routine sortie when it developed a snag and could not land on the ship. The plane reached the Thiruvananthapuram airport, which was designated as the emergency recovery airfield, and requested emergency landing permission. Meanwhile, the Indian Air Force provided all required support and assisted in the process, including refuelling. Following the failed repair attempts, a 14-member engineering team from the UK Ministry of Defence was dispatched with specialised equipment to assist in the recovery and maintenance of the jet. The aircraft was moved to a secure hangar at the airport for detailed assessment. The fighter jet finally took off from Thiruvananthapuram International Airport on July 22 after remaining grounded at the airport for over a month. The jet, worth over $110 million, is one of the most advanced fighter planes in the world. The F-35B is the only fifth-generation fighter jet with short take-off and vertical landing (STOVL) capabilities, making it suitable for small decks, austere bases, and ships. (With inputs from agencies) view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
2 hours ago
- Time of India
OpenAI bans ChatGPT from answering breakup questions; Sam Altman calls the new update 'annoying'
OpenAI is adjusting ChatGPT's approach to sensitive emotional queries, shifting from direct advice to facilitating user self-reflection. This change addresses concerns about AI's impact on mental well-being and aims to provide more thoughtful support. OpenAI is consulting experts and implementing safeguards like screen-time reminders and distress detection to ensure responsible AI interaction. Nowadays, many of us have turned AI platforms into a quick guidance source for everything from code to personal advice. But as artificial intelligence becomes a greater part of our emotional lives, companies are becoming aware of the risks of over-reliance on it. But can a chatbot truly understand matters of the heart and emotions? With growing concerns about how AI might affect mental well‑being, OpenAI is making a thoughtful shift in how ChatGPT handles sensitive personal topics. Rather than giving direct solutions to tough emotional questions, the AI will now help users reflect on their feelings and come to their own conclusions. OpenAI has come up with significant changes OpenAI has announced a significant change to how ChatGPT handles relationship questions. Instead of offering direct answers like 'Yes, break up,' the AI will now help users think through their dilemmas by giving self-reflection and weighing pros and cons, particularly for high-stakes personal issues. This comes as there have been several issues over AI getting too direct in emotionally sensitive areas. According to reports from The Guardian, OpenAI stated, 'When you ask something like: 'Should I break up with my boyfriend?' ChatGPT shouldn't give you an answer. It should help you think it through—asking questions, weighing pros and cons.' The company has also said that 'new behaviour for high‑stakes personal decisions is rolling out soon. We'll keep tuning when and how they show up so they feel natural and helpful,' according to OpenAI's statement via The Guardian. To ensure this isn't just window dressing, OpenAI is gathering an advisory group of experts in human-computer interaction, youth development, and mental health. The company said in a blog post, 'We hold ourselves to one test: if someone we love turned to ChatGPT for support, would we feel reassured? Getting to an unequivocal 'yes' is our work' OpenAI CEO says that the new update is.... This change follows user complaints about ChatGPT's earlier personality tweaks. According to the Guardian, CEO Sam Altman admitted that recent updates made the bot 'too sycophant‑y and annoying.' He said, 'The last couple of GPT‑4o updates have made the personality too sycophant‑y and annoying (even though there are some very good parts of it), and we are working on fixes asap, some today and some this week.' Altman also teased future options for users to choose different personality modes OpenAI is also implementing mental health safeguards. Updates will include screen-time reminders during long sessions, better detection of emotional distress, and links to trusted support when needed
