Japanese investment conglomerate SoftBank Group booked a net profit of 517 billion yen ($3.49 billion) for January-March as its telecommunications holdings performed well.
It's been three months since SoftBank's Masayoshi Son and OpenAI co-founder Sam Altman promised during a White House briefing to swiftly deploy $100 billion, and raise that figure to $500 billion over the next four years.
SoftBank's lofty artificial intelligence ambitions are reportedly colliding with the harsh reality of tariffs. The Japanese conglomerate's plan to invest $100 billion in AI infrastructure in the United States has slowed, Bloomberg reported Monday (May 12), as risks related to White House tariffs have hindered financing discussions.
Japanese technology investor SoftBank Group is expected to book a quarterly net loss of 26.9 billion yen ($184.4 million) on Tuesday as early-stage tech startups fell out of favour and losses widened at major portfolio firms.
Twenty One Capital, a new company formed by Cantor Fitzgerald, Tether Holdings SA, and SoftBank Group, is about to become one of the largest public holders of bitcoin. A Reuters report said the entity will launch with over 42,000 bitcoin (valued at about $3.6 billion), positioning it as the third-largest corporate bitcoin holder globally.
SoftBank-backed crypto venture Twenty One Capital said on Wednesday it has agreed for a business combination with blank-check vehicle Cantor Equity Partners in a $3.6 billion deal.
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