Home / Technology / SoftBank's AI Bet Pays Off: Profit Returns Amidst OpenAI Boom
SoftBank's AI Bet Pays Off: Profit Returns Amidst OpenAI Boom
12 Feb
Summary
- SoftBank reported ¥248.59 billion profit, exceeding expectations.
- An 11% stake in OpenAI contributed significantly to SoftBank's gains.
- Apple's Siri revamp faces new delays due to software issues.
SoftBank Group Corp. achieved a net income of ¥248.59 billion in its fiscal third quarter, a significant turnaround attributed to its substantial investment in OpenAI. The Japanese investment giant holds an 11% stake in the artificial intelligence firm, which has seen its valuation surge, contributing an estimated $19.8 billion in gains as of December.
OpenAI is now a major holding for SoftBank, rivaling its stake in Arm Holdings. This positions SoftBank as a key player for investors looking to capitalize on the AI market, with analysts noting its direct exposure to OpenAI's growth.
Separately, Apple Inc. is grappling with persistent issues in upgrading its Siri virtual assistant. Recent testing has uncovered problems with query processing and response times, leading to potential postponements of new features planned for upcoming iOS updates.
The revamped Siri, initially announced in June 2024, has faced numerous delays. Apple is now considering pushing some features back to iOS 26.5 (May) and iOS 27 (September), with internal development focusing on improved data privacy and enhanced functionality.
Despite these internal challenges, Apple is also developing new AI capabilities, including a web search tool and custom image generation, which have been tested in recent iOS versions. The company's long-term vision includes a deeply integrated AI assistant across its operating systems, powered by advanced AI models.
