The Japanese tech conglomerate is doubling down on AI and semiconductor infrastructure, anchoring its future around OpenAI, the Stargate project, and the recently acquired chipmaker Ampere.
After years of heavy losses, SoftBank recorded ¥1.70 trillion ($11.49 billion) in income before tax for FY2024, buoyed by strong returns from holdings in Alibaba, T-Mobile, and Deutsche Telekom.
SoftBank’s aggressive refinancing and bond issuance efforts appear to have paid off, freeing up capital for ¥286.2 billion ($1.9 billion) in share buybacks through April 2025.
Now focused on long-term growth, the group plans to “use the full power” of its ecosystem to “help realise Artificial Super Intelligence and create a better future for everyone,” CFO Yoshimitsu Goto told investors.
SoftBank is among the lead investors backing the Stargate project, an ambitious effort to deploy gigawatt-scale AI data centres across the US, and eventually, the globe, after OpenAI unveiled plans to bring Stargate to Europe and beyond.
The Japanese firm is providing much of the financial firepower behind OpenAI’s involvement, committing up to $30 billion to the ChatGPT maker, including an $8.5 billion initial tranche through Vision Fund 2.
Goto said SoftBank’s investments in OpenAI “show our belief in the AI revolution”.
“Its technology is advancing fast, its user base [is] increasing, and we believe it will continue to be a leader in AI,” he told investors.
Beyond Stargate, Arm, the SoftBank-owned chip designer, posted a strong year, with revenues hitting $4 billion and license and royalty income reaching all-time highs, buoyed by growing adoption of its Armv9 architecture and expansion into automotive.
Arm is set to be complemented by Ampere, acquired in a $6.5 billion deal announced in March, adding to SoftBank’s 2024 buyout of AI chipmaker Graphcore, as the Group looks to deepen its control over data centre silicon.
“These moves were not sudden,” Goto said. “They are the result of long preparation. Now we are focused on creating value for people, for innovation, and for shareholders.
“Looking ahead, our AI infrastructure, mainly provided by Stargate, will help power OpenAI’s growth. OpenAI’s technology will drive new applications, transform industries, and increase value across our portfolio, boosting SoftBank Group’s Net Asset Value.”
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