SoftBank Swings to $7 Billion Quarterly Loss as AI Concerns Weigh

SoftBank Group posted a $7 billion net loss for the quarter ended September, reversing a year-earlier profit as concerns over artificial intelligence investments weighed on results. The loss marked a sharp reversal from a profit in the same quarter a year earlier. Revenue still increased 16% year over year, showing that higher sales did not prevent the move into the red. SoftBank holds stakes in OpenAI and chipmaker Arm Holdings through its Vision Funds, which invest in technology startups and larger companies. That portfolio exposes earnings to swings in investment values, so a small number of holdings can have a large effect on its reported results. The quarter highlights that exposure as AI investment concerns weigh on the group.

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