SoftBank Group, led by billionaire Masayoshi Son, reported a record net profit of ¥5 trillion ($31 billion) for the year ending March 31, driven by a $45 billion gain from its Vision Fund's investment in OpenAI. The AI company OpenAI recently reached an $852 billion valuation, fueling SoftBank's plan to increase its stake to 13% with a $65 billion investment by October. Despite this optimism, credit rating agency S&P Global downgraded SoftBank's rating to negative, citing concerns over asset liquidity and portfolio quality due to the large OpenAI bet. Additionally, SoftBank announced a €75 billion investment in AI data centers in France, aiming to complete the first phase by 2031.
Oil prices are rising sharply due to renewed US naval blockades on Iranian shipping and increased tensions in the Strait of Hormuz, a critical oil transit route. Brent crude is holding above $85 and WTI above $80, with forecasts suggesting WTI could ...
The US government announced it will impose a new 25% tariff on Brazilian ethanol starting next Wednesday, accusing Brazil of unfair trade practices. This tariff excludes major Brazilian exports like oil, beef, coffee, and aircraft parts. The move fol...
Alibaba and Baidu shares rose after Apple received approval from China's Cyberspace Administration to include Apple Intelligence, integrating Alibaba's Qwen AI model and Baidu's AI features into Apple devices in China. This partnership allows users t...
Ondo Finance has introduced the first tokenized stock representations backed by DTCC tokenized entitlements, joining major financial firms in a significant tokenization initiative. This move highlights Ondo's unique position in building infrastructur...
Leading Japanese companies, startups, and research institutions are developing specialized AI models using NVIDIA Nemotron open models to address Japan's unique language, industrial, and workforce challenges. These AI applications range from enterpri...
