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SoftBank Group (TYO: 9984) reported a stronger-than-expected fiscal first-quarter profit despite higher operating and financing costs, supported by massive investment gains from Intel and its Vision Fund portfolio.
For the three months ended June 30, SoftBank posted net income attributable to shareholders of 347.33 billion yen ($2.2 billion), down 17.7% from a year earlier but well above Bloomberg's estimate of 165.83 billion yen. Revenue climbed 10.9% year over year to 2.02 trillion yen, reflecting steady business growth across its portfolio.
The Japanese technology investment giant recorded 1.86 trillion yen in total investment gains during the quarter, nearly tripling from the previous year. A major contributor was its 1.33 trillion yen gain from its stake in Intel (NASDAQ: INTC). SoftBank acquired roughly a 2% stake in the U.S. chipmaker in 2025, and Intel's strong turnaround, improving earnings, and expanding foundry business have driven a remarkable share price rally in 2026.
SoftBank's Vision Fund also delivered solid results, generating 460.1 billion yen in investment gains. These returns helped offset a sharp increase in selling, general, and administrative expenses, along with higher financing costs and foreign exchange-related losses.
The company continues to expand its artificial intelligence strategy through significant investments in OpenAI. SoftBank invested $10 billion in April and another $10 billion in July as part of its planned $30 billion additional commitment. Another investment tranche is expected in October, bringing its cumulative investment in OpenAI to $64.6 billion. As of June 30, SoftBank's OpenAI stake totaled $44.6 billion, with an estimated fair value of $89.6 billion.
However, the aggressive AI investment strategy has increased borrowing costs, with financing expenses nearly doubling due to bridge loans used to fund OpenAI investments.
Meanwhile, SoftBank's AI computing business continued to grow, supported by higher revenue from Arm Holdings (NASDAQ: ARM), widely regarded as one of the company's most valuable assets. The strong quarterly performance gives CEO Masayoshi Son greater financial flexibility to continue expanding SoftBank's AI-focused investment strategy while reinforcing its position as a leading global technology investor.
