IBM ends US immigration sponsorship for most consulting roles
IBM Consulting employs more than 150,000 people. The company cited changes in available skills and client needs for its decision.
SoftBank posts ¥1.1 trillion quarterly loss after US data center setback
The Japanese technology investor recorded a $3.7 billion loss tied to equipment spending for revised AI infrastructure projects.
SoftBank Group reported a July-September net loss of ¥1.1 trillion on November 10, saying advance payments for US data center construction weighed on its results. It had earned ¥2.5 trillion in the corresponding quarter a year earlier.
The company attributed a $3.7 billion loss to a subsidiary's equipment investments for US artificial intelligence data center projects whose plans were subsequently revised. Quarterly financing costs reached ¥462 billion, more than double their previous level.
The year-earlier profit included a large investment gain as SoftBank's holding in ChatGPT developer OpenAI increased in value. SoftBank has spent $64.6 billion on a 13% stake in OpenAI, making the investment a major part of its AI exposure.
Beyond AI models, SoftBank's main investments encompass data center infrastructure, semiconductors and robotics. Its shares have lost almost half their value since June began, alongside declines in other AI stocks.