Softbank shares surge 20% on OpenAI, SB Energy IPO cheer

SoftBank shares surged 20% after OpenAI IPO reports and SB Energy confidential filing. Full story on Bond.az.

ByZoe Allen- Senior Editor

Today / 04:01|Last updated: Today / 04:02

Softbank shares surge 20% on OpenAI, SB Energy IPO cheer — Photo: Prepared by Bond.az

SoftBank Group shares jumped 20% on Thursday amid reports that OpenAI is preparing for an IPO and SB Energy has filed for a confidential U.S. IPO.

Tokyo-listed SoftBank shares rose to 6,039 yen at 03:45 GMT, recovering from recent slides due to U.S. tech weakness.

SB Energy, which develops power and data center infrastructure for AI, confidentially filed for a U.S. IPO this week.

SoftBank's partnership with OpenAI under the Stargate initiative to build AI infrastructure also boosted sentiment. Reports that OpenAI is accelerating IPO plans added to the rally.

SoftBank posted a record annual profit last week, driven by valuation gains from its OpenAI stake.

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