SoftBank, the Japanese tech investor, marks a £1.2bn profit in its recent financial report, signalling a strategic move towards Artificial Intelligence investments.
Notably, it led an £800m funding round into UK’s self-driving car software company, Wayve.
1. SoftBank records a £1.2bn profit, aiming to bolster its position ahead of significant AI investments.
2. Quarterly net income surges to 231bn yen (£1.18bn) from a 57.6bn yen loss in the previous year.
3. Despite gains, SoftBank faces its third annual loss at 227bn yen for the fiscal year ending March.
4. Investments in UK chip designer Arm propel gains, emphasising a shift towards AI-focused strategies.
5. Arm’s plans to develop AI chips anticipate product launches by 2025, driving up share prices by 60% in 2024.
6. SoftBank’s CEO, Masayoshi Son, orchestrates bold tech investments, leveraging gains from past successes like Alibaba.
7. SoftBank leads an £800m funding round into British autonomous driving tech firm, Wayve, amidst talks to acquire Graphcore, a British AI chipmaker.
