Japanese technology investor SoftBank Group on Thursday booked a net profit of $2.87 billion in the first quarter, driven by gains among larger listed investments in its Vision Fund portfolio.

SoftBank Group Corp. swung to a quarterly profit, riding on gains from its bets on Nvidia Corp. and startups in a boon for founder Masayoshi Son’s bets on artificial intelligence technologies.Most Read from BloombergAll Hail the Humble Speed HumpMayor Asked to Explain $1.

SoftBank Group ( OTCPK:SFTBY) ( OTCPK:SFTBF) said it is taking longer than expected to get the Stargate project off the ground, acknowledging for the first time that the $500B AI collaboration in the U.S. with OpenAI is slowing down,