SoftBank shares jump 5% amid AI chip frenzy

TOKYO: Shares in SoftBank Group Corp jumped 5% in early trading in Tokyo as the tech investing conglomerate, which is preparing to list chip designer Arm, was caught up in the frenzy for semiconductor and AI-related stocks.

While shares in the Japanese conglomerate, which has been hit by the slumping value of its tech portfolio, have gained 17% since Friday’s close they are up only 6.4% year-to-date.

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That compares with a 172% gain by chip maker Nvidia Corp this year and a 38% rise in the Philadelphia SE Semiconductor Index.