SoftBank Group stock faces AI cost test after Q2 loss

SoftBank Group reported a fiscal second-quarter loss on Tuesday, November 10, as a writedown on US AI data-centre power equipment, weaker Intel-linked positions and higher financing expenses outweighed investment gains. The figures sharpen the near-term test for the group's aggressive artificial-intelligence strategy.

investingLive reported that SoftBank Group posted a loss of about 1.12 trillion Japanese yen for the quarter, compared with a profit of about 2.5 trillion yen a year earlier. The largest individual charge was a writedown of roughly 3.7 billion US dollars on advance payments for power-generation equipment intended for US data centres.

AI costs meet stronger financing

Quarterly revenue reached 2.22 trillion Japanese yen and exceeded the market estimate cited by investingLive. For the first half, investment gains fell to about 1.7 trillion yen, leaving the group with a loss of roughly 770 billion yen.

The balance sheet offered a counterweight. Net asset value reached a record 59.8 trillion yen at the end of September, while the loan-to-value ratio stood at 15.9% and liquidity at about 5 trillion yen. At November 9 market prices, pro forma net asset value was about 44.7 trillion yen, highlighting the sensitivity of the portfolio to technology-market swings.

OpenAI remains a major swing factor

SoftBank completed a further 3 trillion yen investment in OpenAI during the period, taking its stake to roughly 13%. A higher valuation from a subsequent funding round was not yet reflected in the reported figures, leaving future disclosures important for the investment case. The group also committed, together with Grab and Malaysia's PETROS, initial capital of 1.85 billion US dollars for AI infrastructure in Malaysia.

SoftBank Group stock traded at 22.62 euros on Lang & Schwarz at 15:14 CET on Wednesday, November 11, 2026, compared with 21.89 euros in the latest relevant report at 09:44 CET the same day. The move since that report is separate from any Xetra daily comparison.

Japan's equity backdrop is covered in the Nikkei 225 market overview.

Further company-specific developments are available in more news and analyses on SoftBank Group stock.