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The Economic Times
The Economic Times
Technology

SoftBank profit more than triples to $12 billion on OpenAI stake gains

SoftBank OpenAI SoftBank Group

Technology investor SoftBank Group reported on Wednesday that its net profit more than tripled to 1.83 trillion yen ($11.60 billion) in the January-March quarter, as it booked gains on the value of its investment in ChatGPT-maker OpenAI.

It was SoftBank's fifth consecutive quarterly profit, with the Vision Fund investing arm booking an OpenAI-driven gain of 3.1 trillion yen in the quarter.

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