SoftBank Group reported a net profit of $2.87 billion in the first quarter, driven by gains in its Vision Fund portfolio. The Stargate project, a $500 billion data center scheme, is facing delays. SoftBank’s Vision Funds hold $45 billion worth of late-stage companies ready to list. The group overall logged a net profit of 421.8 billion yen for the April-June quarter. SoftBank is leading a $40 billion funding round for OpenAI. The Stargate project remains a key focus for SoftBank, with positive interest from banks involved in project financing. SoftBank has raised $7.8 billion by selling off a portion of its holding in T-Mobile.

Read more at Yahoo Finance: SoftBank Group swings to profit in first quarter, Stargate timeline delayed