This article first appeared on GuruFocus.

SoftBank Group (SFTBY, Financials) said that its Vision Fund gained $19 billion in the quarter ended Sept. 30, powered by rising valuations in artificial intelligence investments, including OpenAI. The strong result helped lift the company’s profit to 2.5 trillion yen, well above analyst forecasts compiled by LSEG.

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Revenue for the quarter came in at 1.92 trillion yen, slightly ahead of projections, marking a sharp improvement from a year earlier when profit totaled 1.18 trillion yen. The Vision Fund segment, which includes administrative costs and third-party adjustments, rose from a $4.8 billion gain in the prior quarter as AI-related holdings appreciated.

SoftBank has leaned heavily into artificial intelligence, investing in robotics and artificial superintelligence ventures. The company recently completed the final tranche of a $30 billion investment in OpenAI after the U.S. startup restructured into a public benefit corporation, OpenAI Group PBC.

Shares of SoftBank have fluctuated in recent weeks amid concerns of an AI bubble, losing nearly $50 billion in market value last week their steepest weekly drop since March 2020. Still, the stock has more than doubled this year, driven by the Vision Fund’s recovery and strong tech sector performance.