SoftBank extends scorching rally, surging over 12%, as investors crowd into AI trade
The logo of Japanese company SoftBank Group is seen in front of the company’s headquarters in Tokyo on January 22, 2025.
Kazuhiro Nogi | Afp | Getty Images
SoftBank Group Shares rose more than 12% on Friday, extending their scorching rally for a second day and gaining momentum after Nvidia’s blockbuster earnings boosted AI-related stocks.
The company’s shares closed 20% higher on Thursday, increasing its market value by more than $35 billion.
Softbank’s rally is also fueled by a sharp rise in Arm Holdings, in which the Japanese company has a majority stake. Kol shares were up over 16% overnight after gaining over 15% in the previous session.
Nvidia’s latest results reinforced optimism about continued spending on AI infrastructure and data centers.
The potential OpenAI listing also directs investors to SoftBank, which has invested heavily in the ChatGPT maker, and the IPO would unlock significant value for SoftBank.
The company has emerged as one of OpenAI’s biggest supporters; It invested more than $30 billion in OpenAI and generated nearly $45 billion in earnings in the fiscal year that ended in March.
