SoftBank Group wants to build a happier future for all through artificial intelligence technologies. The Japanese tech investor has just posted its biggest quarterly profit in two years. That, combined with founder Masayoshi Son’s restraint in making risky investments in recent years, gives Son the cash and credibility to make a big bet on the next AI breakthrough.
SoftBank reported net income of ¥1.18tn ($7.7bn) for the latest quarter, higher than expected and a sharp turnaround from a net loss of ¥931bn last year. The Vision Fund reported a gain of ¥373bn thanks to the rising value of investments in China and India.
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