Softbank's quarterly results beat expectations and made $8.5 billion in Intel investment

On August 6, SoftBank Group announced a decline in quarterly net profit that was less than market expectations, mainly due to the generous profits brought by its stake in Intel, and the market is currently closely watching its huge bet on OpenAI. The Tokyo-based technology investment company recorded an investment income of 1.3 trillion yen (approximately US$8.5 billion) in the quarter ending June due to its holdings of Intel shares. Intel's share price surged 216% during the quarter. SoftBank invested $2 billion in Intel shares last year at $23 per share, an investment that partially offset the impact of slowing OpenAI valuation growth and the decline in the value of VisionFund's investment portfolio.