SoftBank Posts $7.1 Billion Quarterly Loss as AI Bets Falter
SoftBank Group reported a $7.1 billion loss in its most recent quarter, its first quarterly loss in nearly two years. The loss was largely due to its AI investments.
By Kosaku Narioka and Eliot BrownGlobal tech investor SoftBank Group signaled that it would temper its aggressive pursuit to cash in on artificial intelligence after it posted a $7.1 billion loss in the most recent quarter, its first swing into the red in nearly two years.Much of the loss was due t…