Intel shares surge 216%, handing SoftBank a gain of 8.5 billion dollars

Earnings
โดย Money & Banking·JP·Read original
Summary · why it matters

SoftBank Group reported better-than-expected quarterly results, boosted by an investment gain on Intel shares worth 1.3 trillion yen, or about 8.5 billion US dollars. Intel's stock price surged 216% during the April-to-June quarter, after SoftBank invested roughly 2 billion dollars last year at an average price of 23 dollars per share. This gain helped offset slowing returns from OpenAI and writedowns at some Vision Fund portfolio companies. Although SoftBank's net profit fell 18% to 347.3 billion yen, it still significantly exceeded analyst expectations of 166 billion yen. Meanwhile, SoftBank plans to increase its investment in OpenAI to nearly 65 billion dollars by October, using a 40-billion-dollar short-term loan and another 20 billion dollars backed by its Arm Holdings stake.

Impact on stocks 3

Financials · 1 stocks
SoftBank Group Corp.
9984
▲ PositiveCapitalrelevance

SoftBank reported better-than-expected results, driven by an $8.5 billion gain on Intel shares.

Semiconductors · 1 stocks
Intel Corporation
INTC
▲ PositiveCapitalrelevance

Intel's stock surged 216% in the quarter, boosting SoftBank's investment value.

Artificial Intelligence · 1 stocks

Off-coverage companies 1

OpenAIPrivate▲ Positive
Capitalrelevance

SoftBank plans to increase its investment in OpenAI to nearly $65 billion by October.