SoftBank stock rises 20% on AI wins, up 30% YTD
Business
SoftBank's shares shot up 20% on Thursday, bouncing back from a losing streak thanks to some big wins in the AI world.
The stock was trading at about 5,993 JPY, now up 30% for the year, a strong sign that investors are excited about SoftBank's tech moves.
NVIDIA earnings and IPO activity
NVIDIA's impressive earnings this week gave SoftBank an extra lift, since ARM Holdings designs chips for NVIDIA-powered AI servers.
There's also buzz that OpenAI might go public soon.
On top of that, SoftBank's SB Energy plans to file for its own IPO via the confidential route and is planning a massive natural gas power plant to support SoftBank's AI data center complex in Ohio.