Softbank Doubles Down on AI with Major Investments in OpenAI, PayPay, and ChatGPT
Softbank's Vision Fund posted a $19 billion gain in Q2, fueled by strategic investments in artificial intelligence. The Japanese conglomerate is channeling $22.5 billion into OpenAI through Vision Fund 2, completing a $30 billion commitment. AI-driven revenues hit record highs, accounting for 93% of annualized growth last quarter.
The tech investment arm's recovery has propelled Softbank shares 140% year-to-date. A four-for-one stock split announced today aims to broaden retail investor access. Despite recent market jitters from a $50 billion capitalization drop, Softbank's Q2 net profit more than doubled to $16.6 billion on valuation gains.