tech
SoftBank Group extends scorching rally with shares in OpenAI, Arm-backer surging over 11%
Shares of SoftBank Group extended gains for a second straight session Friday.
TL;DR
- SoftBank Group shares rose over 11% on Friday, extending a rally from the previous day.
- The surge is linked to Nvidia's strong earnings, boosting AI-linked stocks.
- A significant rise in Arm Holdings' shares, a majority stake owned by SoftBank, is a key driver.
- SoftBank's substantial investment in OpenAI, which may file for an IPO, also supports the rally.
- Analysts suggest SoftBank provides exposure to the AI data center CPU boom and the potential OpenAI IPO.
- A caution is noted regarding holding companies like SoftBank, as investors may apply a discount to their net asset value.