SoftBank Group reported a net loss of 1.1 trillion yen (US$7 billion) for the July-to-September quarter on 10 November, against a 2.5 trillion yen profit a year earlier, CNA reported. The Japanese technology investor’s results were hit by advance payments to support US data centre construction.
SoftBank said it recorded a US$3.7 billion loss after a subsidiary invested in equipment for US AI data centre projects whose plans were later revised. Financing costs more than doubled to 462 billion yen in the quarter. LSEG’s poll of three analysts put the forecast range between a 233 billion yen profit and a 113 billion yen loss.
A year earlier, SoftBank recorded a large investment gain as the value of its OpenAI stake rose. The group has spent US$64.6 billion on a 13 per cent stake in the ChatGPT maker. Its investments span AI models, data centres, semiconductors and robotics. SoftBank shares have almost halved in value since the start of June.
