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SoftBank Group Corp. is poised to report a modest profit, reflecting the ongoing impact of previous investment missteps. The Tokyo-based firm is expected to announce a net income of ¥1 billion ($6.9 million) for the June quarter, a stark contrast to the significant loss of ¥477.6 billion from the previous year. This small profit highlights the challenges posed by numerous underperforming startups still on the Vision Fund's balance sheet.
Despite the slim profit, Masayoshi Son is gearing up for a new investment in artificial intelligence. The company is emerging from a period of sharp selloffs, indicating a potential shift in strategy as it looks to leverage its substantial cash reserves. The upcoming AI bet could signal a pivotal moment for SoftBank, as it seeks to recover from past losses and capitalize on the growing AI market.
• SoftBank's profit reflects ongoing challenges from past AI investments.
• Masayoshi Son prepares for a significant new AI investment.
This term is relevant as SoftBank is preparing for a new AI investment to enhance its portfolio.
The Vision Fund's past investments are impacting SoftBank's current financial performance.
SoftBank's strategic moves in AI are crucial for its recovery and future growth.
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