Shares of SoftBank Group extended sharp gains on Friday, nearing record highs, driven by investor enthusiasm for artificial intelligence investments and potential IPOs.
SoftBank shares surged up to 14% to 6,881 yen, approaching an all-time high of 6,923.8 yen reached last year.
Stocks jumped nearly 20% in the previous session on optimism over a possible IPO of ChatGPT maker OpenAI and listing plans for SoftBank-backed SB Energy.
The Japanese tech investor also benefited from a rally in AI chip stocks after strong Nvidia earnings. Arm Holdings, a SoftBank-owned chip designer, is a major beneficiary of growing AI infrastructure demand.
Earlier this month, SoftBank reported record annual profit, driven largely by gains on its OpenAI investment.
