SoftBank Group shares closed 13.9% higher in Tokyo on Tuesday 10 November 2026, even though the Japanese technology investor reported a quarterly net loss of 1.12 trillion yen, about $7 billion.

The shares closed at 3,872 yen, up 472 yen from Monday’s close of 3,400 yen, after rising by about 15% during the session. The gain came as Asian technology shares rebounded after a strong rally on Wall Street.

SoftBank swung to a fiscal second-quarter net loss of 1.12 trillion yen for the July to September quarter, a sharp reversal from a net profit of 2.5 trillion yen a year earlier.

Data centre writedown behind the loss

The loss was driven by a writedown on equipment bought for US artificial intelligence data centres. SoftBank recorded a $3.7 billion writedown on power-generation equipment ordered for its US AI data centre projects, alongside a fall in the value of its Intel shares.

Quarterly revenue came in at 2.22 trillion yen, above the 2.02 trillion yen expected by analysts surveyed by LSEG. Revenue rose 13.3% over the six months to 30 September, helped by growth in telecommunications and AI computing.

Arm, SoftBank’s chip-design subsidiary, reported quarterly revenue of $1.443 billion, up 27% year on year, with fully diluted earnings of $0.52 a share, up 33%.

OpenAI stake still the focus for investors

Investors appeared to look past the quarterly loss to SoftBank’s large stake in OpenAI. SoftBank’s cumulative investment in OpenAI stood at $54.6 billion at the end of September, with a fair value of $99.6 billion, a cumulative gain of $45 billion, according to the company.

SoftBank completed $30 billion of follow-on investments in OpenAI in October, lifting its cumulative commitment to $64.6 billion and its stake to roughly 13%.

The group also highlighted a 20-year lease with OpenAI for eight gigawatts of IT capacity at an Ohio data centre project.

Balance sheet under scrutiny

The balance sheet was a central focus of the earnings presentation. SoftBank raised a record $56.5 billion in the quarter, made up of $39.9 billion from debt markets, including loans backed by OpenAI shares, and $16.6 billion from asset sales, including margin loans against Arm shares and prepaid forwards backed by Intel stock.

Its loan-to-value ratio stood at 15.9% on 30 September. Net asset value was 59.8 trillion yen, about $380 billion, on 30 September, but the company’s pro forma figure at 9 November market prices was 44.7 trillion yen, about $282 billion, a fall of roughly 15 trillion yen in about six weeks as AI-related valuations fell.

A possible rise in OpenAI’s valuation after a new funding round is not yet in the results, pending an official announcement. SoftBank said it could appear in the fiscal third quarter and lift its net asset value.

This article reports market figures as published on 10 November 2026. Share prices can move quickly, and the figures here are a record of the day’s trading, not financial advice.