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The Independent UK
The Independent UK
National
Yuri Kageyama

Japan tech giant SoftBank Group sees better fortunes on surging AI stocks

SoftBank SoftBank Group Japan Yoshimitsu Goto Artificial Intelligence Coupang
Japan Earns SoftBank Group - (Copyright 2018 The Associated Press. All rights reserved.)

Japanese technology conglomerate SoftBank Group Corp. posted a 421.8 billion yen ($2.9 billion) profit in the April-June quarter, rebounding from a loss a year earlier as its investments benefited from the craze for artificial intelligence.

Quarterly sales at Tokyo-based SoftBank Group, which invests heavily in AI companies like Nvidia and Open AI, rose 7% to 1.8 trillion yen ($12 billion), the company said Thursday.

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