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SoftBank Swings to Profit on Nvidia Bet Ahead of Big AI Campaign
(Bloomberg) -- SoftBank Group Corp. swung to a profit in the June quarter, bolstered by gains in its holdings including Nvidia Corp. and Coupang Inc., in a boost for founder Masayoshi Son's planned bets on artificial intelligence technologies. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station The Tokyo-based company reported net income of ¥421.82 billion ($2.9 billion) in its fiscal first quarter, versus the average of analyst estimates compiled by Bloomberg of ¥158.23 billion. The Vision Fund logged a ¥451.39 billion profit. Son is doubling down on bets geared to help him capitalize on booming investment in AI hardware. As part of that shift in focus, SoftBank has been building stakes in Nvidia and Taiwan Semiconductor Manufacturing Co. among others, while selling off less relevant assets. SoftBank increased its stake in Nvidia to more than $3 billion as of end-March, helping the Japanese investor benefit from the AI accelerator maker's 46% rally during the three months through June. US President Donald Trump's threat to unleash 100% chip tariffs but exempt companies moving production to America is infusing optimism for SoftBank's $500 billion Stargate data center foray with OpenAI and Oracle. That nudged the Japanese company's stock up around 1.5% on Thursday, putting it on track to pass a record high it hit the day before. 'Our longer-term outlook for SoftBank Group is cautiously optimistic, with a consensus toward continued business expansion,' said Ashwin Binwani, founder of Alpha Binwani Capital. 'We are prepared for volatility and see it as a buy-the-dip opportunity.' The 67-year-old SoftBank founder seeks to play a more central role in the spread of AI through sweeping partnerships such as Stargate and a planned $30 billion investment in OpenAI. Son is also courting TSMC and others about taking part in a $1 trillion AI manufacturing hub in Arizona. But concern over whether SoftBank can manage multiple mass-scale funding needs as interest rates inch up is keeping its stock at a significant discount to the total net asset value of its holdings. Some of the conversations behind Stargate have slowed due to market volatility, uncertainty around US trade policy and questions around the financial valuations of AI hardware, Bloomberg News reported in May. 'Key points to consider in assessing SoftBank include whether investment in the Stargate Project involving AI infrastructure in the US will progress; whether additional investment in OpenAI amid a fluid management situation is tenable,' SMBC Nikko Securities analyst Satoru Kikuchi wrote in a note earlier this year. --With assistance from Aya Wagatsuma. Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
7 minutes ago
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Modi Vows to Protect Farmers as Trump Builds Tariff Pressure
(Bloomberg) -- Prime Minister Narendra Modi pledged to safeguard the interests of farmers, a day after President Donald Trump doubled tariffs on Indian goods, with pressure mounting on New Delhi to open up its markets to US exports. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station The welfare of farmers remain the country's top priority, Modi said at a conference in New Delhi. The government is constantly working to boost their incomes, lower cultivation costs, and diversify their sources of livelihood, he said on Thursday, without making any direct reference to Trump's move to raise tariffs on Indian goods to 50% as a penalty for India's Russian oil purchases. His commitment to protect farmers comes as Washington wants greater market access for its dairy products and genetically modified crops. It underscores New Delhi's efforts to protect a politically-sensitive sector, while managing stalled trade talks and potential domestic backlash. 'Our government has considered the strength of farmers as the foundation of the nation's progress,' Modi said. 'For us, the welfare of our farmers is the highest priority.' The world's top milk producer and the second-biggest grower of rice, wheat, sugar and cotton doesn't allow cultivation of GM food crops, even though those varieties can boost yields. The commercial release of genetically altered mustard has been stalled due to a legal challenge in the country's top court, and in 2010, the government rejected a GM variety of brinjal, or eggplant. However, India is weighing to ease some dairy market access rules for the US, Bloomberg News reported earlier. Currently, the South Asian nation prohibits the import of dairy products if the cattle were given feed made from animal-derived ingredients. The country has a Hindu majority, and cows are considered as sacred. Farmers are a major voting bloc in the most-populous nation, where millions of smallholders own less than 2 hectares (5 acres) of land. 'India will never compromise' on the interests of its farmers, fishermen and the dairy sector, Modi said. Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery ©2025 Bloomberg L.P. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
7 minutes ago
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SK Telecom Co Ltd (SKM) Q2 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Consolidated Revenue: KRW4,338.8 billion, a decline of 1.9% year on year. Operating Income: KRW338.3 billion, down 37.1% year on year. Net Income: KRW83.2 billion, down 76.2% year on year. 5G Subscribers: Declined by approximately 220,000 quarter on quarter to 17.02 million. AI Business Revenue Growth: 13.9% year on year. AIDC Revenue: KRW108.7 billion, up 13.3% year on year. AIX Revenue: KRW46.8 billion, up 15.3% year on year. Second Quarter DPS: KRW831 with the record date of August 31. Warning! GuruFocus has detected 2 Warning Signs with BOM:532156. Release Date: August 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points SK Telecom Co Ltd (NYSE:SKM) has announced a significant investment of KRW700 billion over the next five years to build a world-class information protection system, enhancing cybersecurity measures. The AI business revenue grew by 13.9% year on year, partially offsetting the decline in telecom revenue, indicating strong growth potential in AI-related sectors. SK Telecom Co Ltd (NYSE:SKM) plans to establish a hyperscale AI data center in collaboration with AWS and SK Group affiliates, aiming to secure a hub for AI Infrastructure Superhighway. The company has introduced a customer assurance package, including free mobile device security solutions and a cybersecurity damage compensation insurance program, to regain customer trust. SK Telecom Co Ltd (NYSE:SKM) has been selected as a key player in the government's sovereign AI model development project, positioning itself as a leader in AI technology in Korea. Negative Points The cybersecurity incident led to a decline in MNO revenue due to net subscriber losses and suspension of new subscriber sign-ups, impacting overall financial performance. Operating income decreased by 37.1% year on year, with significant one-off costs incurred due to the cybersecurity incident and related compensation measures. Net income fell by 76.2% year on year, reflecting the substantial financial impact of the cybersecurity incident on the company's earnings. The company has lowered its annual revenue guidance from KRW17.8 trillion to KRW17 trillion, anticipating further financial impact in the second half of the year. The suspension of new subscriber acquisition and cancellation fee waivers resulted in a loss of 750,000 handset subscribers, highlighting challenges in customer retention. Q & A Highlights Q: Can you provide more details on the response measures and financial impact of the cybersecurity incident? A: The response includes a customer assurance package and a KRW700 billion investment in information protection over five years. Financial impacts began in Q2, with MNO revenue declining due to subscriber losses and increased costs from free SIM replacements and dealer compensation. The incident will significantly affect 2025 earnings, with revenue guidance lowered to KRW17 trillion. Q: What are your plans regarding dividend payouts and strategies to regain lost customers? A: The Q2 dividend per share is KRW831, with future dividends to be discussed based on full-year earnings visibility. Strategies to regain customers include restoring subscription years and membership grades for returning customers and offering membership discounts. The abolition of the Handset Subsidy Law allows for more promotional flexibility. Q: Can you elaborate on the AI data center investment in Ulsan and its impact on CapEx? A: SK Broadband will invest in the Ulsan AI data center, with AWS providing AI computing facilities. The project will increase SK Broadband's CapEx by nearly 10% year over year, but overall CapEx will remain stable due to completed 5G network investments. The data center aims for KRW1 trillion in annual revenue by 2030. Q: What are SK Telecom's plans for the national AI model development? A: SK Telecom is actively participating in government-led AI projects and was selected as a finalist for developing sovereign AI foundation models. The company aims to support AI adoption through open-source releases and proprietary technology development, positioning itself as a key partner in Korea's AI ecosystem. Q: How does SK Telecom plan to enhance its cybersecurity measures following the incident? A: SK Telecom has restructured its security system, installed next-generation security solutions, and completed SIM information encryption. The company plans to invest KRW700 billion over five years to strengthen its IT security to global top levels, following the US National Institute of Standards and Technology's cybersecurity framework. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
