The logo of Japanese company SoftBank Group is seen outside the company’s headquarters in Tokyo on January 22, 2025.
Kazuhiro Nogi | Afp | Getty Images
SoftBank Group shares extended their scorching rally to a second day, rising over 12% Friday, and building on momentum after Nvidia’s blockbuster earnings boosted AI-linked stocks.
The company’s shares had closed 20% higher Thursday, adding over $35 billion to its market cap.
Softbank rally is also being powered by a sharp rise in Arm Holdings, in which the Japanese company holds a majority stake. Arm shares advanced over 16% overnight, after gaining more than 15% in the prior session.
Nvidia recent results have reinforced optimism around continued spending on AI infrastructure and data centers.
The potential OpenAI listing is also driving investors to SoftBank that has invested heavily into the ChatGPT maker, with the IPO set to unlock substantial value for SoftBank.
The company has emerged as one of OpenAI’s largest backers, investing more than $30 billion into OpenAI and booking roughly $45 billion in related gains in the fiscal year ended March.
