SoftBank’s stake in OpenAI drives a 20% rally after reports of an imminent IPO filing by the AI firm.
SoftBank’s U.S.-listed shares jumped nearly 20% in Tokyo trading after reports indicated OpenAI plans to file for an IPO as early as Friday. The Japanese conglomerate holds a significant stake in the AI company, fueling investor optimism.
Prior to the rally, SoftBank’s stock had underperformed amid broader tech sector volatility. OpenAI’s potential public debut follows months of speculation about its valuation and investor interest, with SoftBank positioned as a key beneficiary.
The surge reflects renewed appetite for AI-related equities, though no official confirmation of OpenAI’s IPO timeline has been released.