SoftBank posts $1.6B profit on OpenAI-driven SVF gains
The result marks a steep 90% decline from the 2.5 trillion yen ($16.22 billion) reported in the previous quarter and represents a reversal from the 369 billion yen loss ($2.4 billion) recorded in the same quarter a year ago.
SoftBank Group Corp. on Thursday reported a net profit of 248.6 billion yen ($1.62 billion) for the July-September quarter, buoyed by gains from its investments in OpenAI.
The result marks a steep 90% decline from the 2.5 trillion yen ($16.22 billion) reported in the previous quarter and represents a reversal from the 369 billion yen loss ($2.4 billion) recorded in the same quarter a year ago.
SoftBank's Vision Fund 2 (SVF2) gained 2.79 trillion yen ($18.28 billion) from its investments in OpenAI during the quarter.
SoftBank Vision Fund II's India portfolio includes foodtech major Swiggy, ecommerce company Meesho, EV-maker Ola Electric, and the newly-listed Lenskart.
Meesho's shares listed at a 45% premium to their issue price of Rs 111, taking the ecommerce platform's total market capitalisation to Rs 72,751 crore.
The stock opened at Rs 161.20 per share on the BSE, signaling sustained investor appetite for Meesho's Bharat-focused e-commerce model. SoftBank did not sell its stake in the offering. Through its SVF II Meerkat entity, SoftBank owns approximately 9.3% to 9.9% of the Indian ecommerce platform.
In recent months, SoftBank has shifted its focus to AI companies, heavily investing in ChatGPT-maker OpenAI. The conglomerate also has a joint venture with OpenAI, Oracle, and others to build massive AI infrastructure in the US.
SoftBank is in talks to invest up to $30 billion more in OpenAI, according to people familiar with the matter, adding to the Japanese conglomerate's already substantial stake in the startup.
OpenAI is seeking up to $100 billion in new capital from investors in a round that could value it at as much as $830 billion if it succeeds in raising the full amount, The Wall Street Journal previously reported. The deal talks are ongoing and terms could still change. SoftBank is already one of OpenAI's largest shareholders with a stake that grew to 11% in December when it invested an additional $22.5 billion.
Last quarter, SoftBank Group Corp entered into a definitive agreement with ABB Ltd, a global technology leader in electrification and automation, on October 8, 2025, to acquire ABB's robotics business for a total purchase price of $5.375 billion. The company views robotics as a crucial element of its strategic vision.
Meanwhile, after a prolonged spell without new investments, SoftBank invested in Emergent earlier this year. The agentic AI coding startup raised $70 million in Series B funding from Khosla Ventures and SoftBank Vision Fund 2. The round also saw participation from Prosus, Lightspeed, Together, and Y Combinator, taking Emergent's total funding to $100 million since its launch last year.
(The copy will be updated)