SoftBank Shares Hit Record High Amid Push Into AI And Computer Chips
What led to SoftBank shares reaching an all-time high?
SoftBank shares reached an all-time high due to renewed confidence in the company amid booming investor interest in artificial intelligence. Founder and CEO Masayoshi Son unveiled plans to make aggressive moves in the AI sector and invest heavily in AI and chip companies. The company's growing reputation among investors as a "semiconductor-related stock" also contributed to the rise.
How much did SoftBank shares rise on Wednesday?
SoftBank shares rose by 1.5% on Wednesday, reaching an all-time high of ¥10,705.00 ($66) per share. This increase can be attributed to the company's growing reputation among investors as a "semiconductor-related stock" and the recovery of the Nikkei 225 benchmark index.
What sectors is SoftBank planning to invest in?
SoftBank plans to invest in artificial intelligence, AI chips, robotics, autonomous driving, and data centers. The company aims to develop a world-class Japanese-language-specific generative AI model and invest $960 million in computing facilities by 2025.