SoftBank stock hits its first record high in 24 years — Arm and AI helped it get there
Summary
SoftBank Group shares hit a record high on Thursday, just as the companys massive tech investment arm shows signs of recovery and its outspoken founder Masayoshi Son emerged back into the public spotlight to align the Japanese giant to a future in artificial intelligence. The recent rise to a share price peak has been volatile since Son positioned SoftBank as a visionary pioneer with the 2017 launch of a massive technology investment arm — the Vision Fund. He changed tack shortly after the Vision Fund posted a record $32 billion loss in 2023, saying that the company would now shift into "offense," because he was excited about the investment opportunities in AI. It looks like the write down cycle is mostly done, and there is a good chance that the IPO market will be more constructive going forward, especially for AI related investments," Oliver Matthew, head of Asian consumer research at CLSA, told CNBC by email. "Im not sure that investors are convinced by the SoftBank story again," Baker told CNBC by email, adding that this years share gain is "primarily" because Arm stock has risen, while the Japanese yen has weakened.