Streetbeat News

SFTBY

SoftBank Group Corp.

https://group.softbank/

Open

30.20

Mkt cap

89B

Volume

45K

High

30.46

P/E Ratio

252.92

52-wk high

37.19

Low

30.08

Div yield

N/A

52-wk low

18.78

Jack Ma and Joe Tsai have become the largest shareholders of Alibaba Group Holding Ltd (NYSE:BABA), surpassing SoftBank Corp (OTC:SFBQF). Ma increased his stake to over 4.3% by purchasing $50 million worth of shares, while Tsai bought 1.957 million shares through Blue Pool Management. Their combined stake now exceeds that of SoftBank, which has reduced its stake to less than 0.5%. Alibaba's stock price, which had dropped by 11% in Q4 2023, saw a resurgence of over 7% following the co-founders' investments, signaling their confidence in the company's future.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 4:58 am

Arm Holdings Plc has laid off over 70 software engineers in China, reflecting the semiconductor industry's downturn. The layoffs at Arm, which is backed by SoftBank Group Corp., are part of a broader trend as companies like Qualcomm Inc. have also reduced their workforce. Arm's global sales share from China has decreased from 25% to 20%, and the company faces challenges from U.S. technology export restrictions to Chinese firms. Arm is also dealing with disputes with the former head of Arm China, which previously laid off over 100 employees.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 11:00 am

Nvidia Corp (NVDA) is enhancing Japan's AI capabilities by building an AI tech ecosystem and partnering with local entities. Nvidia's CEO, Jensen Huang, plans to establish an AI research lab in Japan, invest in startups, and promote AI education. Despite losing ground with Chinese LLM developers, Nvidia's chips are in high demand globally, especially after the ChatGPT launch. Competitors Intel (INTC) and AMD (AMD) face challenges with declining data-center sales, with AMD launching a new AI chip line and Intel focusing on generative AI capabilities for PCs and smartphones. NVDA shares were up 1.32% at $461.06.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 2:57 pm

Moody's has upgraded SoftBank Group Corp's outlook to stable from negative, affirming its Ba3 Corporate Family rating. The upgrade reflects improved credit fundamentals due to lower leverage and increased transparency after the IPO of Arm Holdings Plc. SoftBank's market value-based leverage improved, and the share of listed assets, including Arm, SoftBank Corp, and Alibaba Group, in its portfolio has risen above 60%. Despite this, SoftBank Group criticized Moody's for maintaining an unsolicited rating. ARM's stock saw a 1.02% increase in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 12:09 pm

Western Digital Corp's stock is trading lower after reports that SK Hynix opposed the company's deal with Kioxia Holdings. SK Hynix, which has an indirect stake in Kioxia, is unwilling to negotiate the integration of the semiconductor division of Toshiba Corp. Western Digital and Kioxia are planning a merger to create a holding company for their NAND flash memory chips operations. Western Digital shareholders will own over 50% of the new company.

Portfolio Pulse from Anusuya Lahiri

October 17, 2023 | 6:00 pm

China's largest ride-hailing company, Didi Global Inc., plans to list on the Hong Kong Stock Exchange after being delisted from the New York Stock Exchange last year due to regulatory fines. The company's OTC markets listing is 80% lower than its June 2021 debut price. The planned Hong Kong listing could boost the flagging IPO market. Didi's major investors include Softbank Group Corp.

Portfolio Pulse from Daniel Harrison

October 13, 2023 | 2:33 pm

Palantir is expanding its collaboration with PwC to combine AI capabilities. Anthropic, a competitor to OpenAI, is securing additional funding from Alphabet and Amazon. Sanofi and Teva have collaborated to co-develop a drug for inflammatory bowel disease. Insulet's CFO is resigning to join 3M. United Airlines has ordered 110 more aircraft from Boeing and Airbus. Zoom has unveiled AI-powered innovations. Over 75,000 employees of Kaiser Permanente have initiated a three-day strike. Softbank's CEO emphasized the importance of AGI. Uber is expanding its service offerings to include package return. UBS is offering enticing interest rates to attract clients. A New Jersey appeals court overturned a verdict linked to asbestos exposure in Johnson & Johnson's talc powder products. BP is looking to sell a stake in its U.S. oil and gas pipeline network. Helen Of Troy and Acuity Brands reported their earnings.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 4:37 pm

Masayoshi Son, CEO of Softbank Group Corp, emphasized the importance of artificial general intelligence (AGI) during the company's annual event, predicting that AGI will surpass human intelligence within a decade. Son's advocacy comes amid a global race to harness AI's potential, led by tech giants like Meta Platforms Inc and Alphabet Inc. Son also revealed his daily interactions with GPT-4, an advanced AI model. SoftBank is preparing to re-enter tech investments, with a shift from a $43.9 billion investment in FY 2021 to a more modest $4 billion in the last fiscal year.

Portfolio Pulse from Anusuya Lahiri

October 04, 2023 | 11:01 am

Craig Wright, founder of Bitcoin SV, claims that Yoshitaka Kitao, chairman of SBI Holdings, received $60 million in XRP tokens for promoting Ripple. Kitao, a former board member of Ripple Labs, has been a strong supporter of XRP and has previously stated that every bank in Japan will use XRP by 2025. Wright also mentioned that Jesse Powell, founder of US digital currency exchange Kraken, was another beneficiary of XRP tokens. Kraken suspended trading of XRP in 2021 after the US SEC filed suit against the company, but re-listed the digital currency in 2022.

Portfolio Pulse from Daniel Harrison

September 28, 2023 | 2:30 pm

The article discusses various financial news. Bitcoin's value in 2021 was enough to purchase a Tesla Model Y. Softbank is exploring investing in OpenAI following a successful IPO of Arm Holding. Ford is facing strikes from UAW in the US and potentially in Canada. Apple's iPhone 15 Pro and Pro Max preorders are strong, and the company has major announcements for 2024. Starbucks has promoted Molly Liu to co-CEO of China Business. KKR acquires SingTel's regional data centre unit for $807M. Chevron's Australian gas facility resumes full production. China Evergrande Group's wealth management staff are detained. Novo Nordisk's Clayton plant faces quality control issues. Alibaba plans a $2B investment in Turkey.

Portfolio Pulse from Vandana Singh

September 18, 2023 | 2:26 pm

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