SoftBank swings to a $7 billion quarterly loss, hit by advance payments for US data centres
SoftBank Group reported a net loss of 1.1 trillion yen for July–September, against a 2.5 trillion yen profit a year earlier driven by gains on its OpenAI stake; analysts' forecasts had ranged from a 233 billion yen profit to a 113 billion yen loss.
Why it matters
SoftBank has put $64.6 billion into OpenAI for a stake of about 13%, so its results are read as a gauge of how AI valuations and spending are holding up. A year ago, marking up that stake produced a 2.5 trillion yen profit; this quarter's loss was far deeper than even the gloomiest of the analyst forecasts polled by LSEG, and CNA reports advance payments for US data-centre build-outs weighed heavily. The shares have almost halved since the start of June. Watch for any new valuation of the OpenAI stake and for updates on data-centre commitments.
Key facts
- July–September net loss: about ¥1.1 trillion ($7 billion)
- Year-earlier quarter: ¥2.5 trillion profit
- LSEG-polled forecasts: ¥233 billion profit to ¥113 billion loss
- April–September net loss: ¥768.0 billion
- OpenAI investment: $64.6 billion for about 13%
- Shares have almost halved since the start of June