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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

Arm owner SoftBank reports £1.2bn profit as it shifts towards AI

SoftBank Masayoshi Son Wayve United Kingdom
ARM chip
Arm plans to develop AI chips in the hope of launching its first products in 2025. Photograph: ARM Holdings/PA

The Japanese tech investor SoftBank made a profit for the second consecutive quarter as it tries to turn its performance around before big planned investments in artificial intelligence.

SoftBank reported net income of 231bn yen (£1.18bn) in the first three months of 2024, compared with a 57.6bn yen loss in the same period last year, according to financial results published on Monday.

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