Japanese technology conglomerate SoftBank Group has reported a $2.9 billion profit for the April-June quarter, rebounding from a loss a year earlier, as its investments benefited from the craze for artificial intelligence.

Launched in January, the Stargate joint venture unites OpenAI, SoftBank, and Oracle to accelerate AI infrastructure investment in the US.

Earlier this week, Foxconn Chairman Young Liu confirmed that SoftBank has acquired its Ohio plant to build new AI servers in the US. The transaction was

Major U.S. equities indexes were mixed Tuesday as tech sector losses weighed on their performance. The S&P 500 ended the session 0.6% lower, while the tech-heavy Nasdaq dropped 1.5%. The Dow held onto a fractional gain.

SoftBank recently revealed plans to acquire a $2 billion (£1.5 billion) stake in Intel, driving the chipmaker’s shares up. However, Softbank’s stock dipped 5% on the same day. On the other hand, Intel’s stock rose by over 5% after-hours trading in New York on Monday.

SoftBank Group Corp.’s digital payment provider PayPay Corp. has confidentially filed a draft registration to debut on the US stock market in a deal that could mint Japan’s first $10 billion unicorn.

PayPay submitted the application on Aug. 14 to the U.S. Securities and Exchange Commission for listing on an unspecified exchange. Possibilities include the New York Stock Exchange and Nasdaq. SoftBank Group announced in May that it was preparing for an offering of shares in its payment service.