SoftBank Group shares reached a record high in Tokyo, pushing the Nikkei 225 above 65,000 for the first time. The move was driven largely by growing confidence that OpenAI is close to filing for an initial public offering, potentially crystallizing Masayoshi Son’s largest bet. The rally began after reports that OpenAI was preparing to file confidentially, with an autumn debut targeted at a valuation that could exceed $1tn. SoftBank also benefited from strong momentum in Arm, which rose sharply on Nvidia’s earnings beat and signals that hyperscaler spending on AI infrastructure remains strong. SoftBank’s OpenAI exposure is substantial, with $32.4bn invested in the fiscal year ended in March, and additional investment continuing to expand the position’s scale.
"SoftBank Group shares hit a record high in Tokyo on Monday, carrying the Nikkei 225 above 65,000 for the first time and capping a fortnight in which the Japanese investment conglomerate has added more than $60bn to its market value. The lift came almost entirely from a single source: growing conviction that OpenAI is days away from filing for an initial public offering that would crystallise the largest single bet Masayoshi Son has ever made."
"The lift came almost entirely from a single source: growing conviction that OpenAI is days away from filing for an initial public offering that would crystallise the largest single bet Masayoshi Son has ever made. The Nikkei finished the morning at 65,254, up 3.02% on the session, according to The Japan Times. Easing tension between the United States and Iran, and the prospect that shipping through the Strait of Hormuz will resume, gave the broader market a tailwind."
"SoftBank trades, in effect, as the only listed proxy for two of the most consequential private positions in the AI build-out: OpenAI, in which it holds roughly 13%, and Arm, the British chip designer in which it retains a controlling stake. Both moved sharply over the past week. Arm rose more than 16% on Thursday, after a 15% gain the day before, on the back of Nvidia's earnings beat and the message that hyperscaler spending on AI infrastructure is not slowing."
"The numbers behind the OpenAI position have grown to a scale that no longer flatters easy comparison. SoftBank invested $32.4bn in OpenAI during the fiscal year that ended in March, chief financial officer Yoshimitsu Goto told the company's earnings call this month. A further $30bn in follo"
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