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SoftBank profit jumps, emboldens Son to bet more on OpenAI
SoftBank Group has reported a surge in quarterly profit due to valuation gains on its OpenAI investment, boosting confidence at the Japanese company to bet even more on the ChatGPT-maker. The gains on OpenAI outweighed lackluster investment gains elsewhere in the Tokyo-based technology group's portfolio while war in the Middle East roiled markets. That points to growing reliance on the U.S. startup, which faces rising competition from Anthropic and Google and is reportedly trailing its highest internal targets. SoftBank earned a net income of ¥1.83 trillion ($11.6 billion) in its fiscal fourth quarter, compared with the average analyst estimate of ¥295.2 billion. The profit could be attributed entirely to its booking $25 billion in valuation gains on OpenAI in the quarter, according to Bloomberg Intelligence analyst Kirk Boodry. In a time of both misinformation and too much information, quality journalism is more crucial than ever.
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Digg is back again, this time to aggregate AI news
Digg is back again and has taken on yet another form: A website that aggregates news about artificial intelligence. Digg's job is to find that signal and bring it to you. AI is just the beginning, he said, calling it the noisiest, fastest-moving space on the internet. He promised that more verticals are coming, but he didn't say when Digg will start aggregating news about other topics. At the moment, the website follows 1,000 people directly involved in AI research, investing and media, built from X's social graph.
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