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SoftBank loses $7B
SoftBank Group posted a net loss of 1.1 trillion yen, or about $7 billion, in the July–September quarter, compared with a profit of 2.5 trillion yen in the same period last year. The group attributed $3.7 billion of its losses to investments in equipment for AI data center projects whose plans were later revised, while financing costs more than doubled to 462 billion yen. The company is betting heavily on AI and spent $64.6 billion to acquire a 13% stake in OpenAI, amid investor concerns about returns in the sector and regulatory constraints. Despite those concerns, its shares rose 13.88% after it announced plans to invest in AI infrastructure in Malaysia.
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