SoftBank stock hits its first record high in 24 years — Arm and AI helped it get there
SoftBank Group shares hit a record high on Thursday, just as the company’s 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 firm has also been helped by the public market success of British chip designer Arm, in which Softbank has a majority stake.
Shares of the Japanese giant closed at a record high of 11,190.00 Japanese yen on Thursday — a far cry from the dotcom crash of the early 2000s and a more recent downturn for the company during the tech market troubles of 2021 and 2022.
The firm has also been helped by the public market success of British chip designer Arm, in which Softbank has a majority stake.
Shares of the Japanese giant closed at a record high of 11,190.00 Japanese yen on Thursday — a far cry from the dotcom crash of the early 2000s and a more recent downturn for the company during the tech market troubles of 2021 and 2022.
Arm chip boost
Several analysts attributed SoftBank’s recent share price bump of around 78% in the year to date to the IPO success of $Arm Holdings (ARM.US)$ , which it acquired in 2016.
SoftBank owns roughly 90% of Arm even after the listing. Arm shares are up nearly 124% alone this year, as of the close on July 3.
Several analysts attributed SoftBank’s recent share price bump of around 78% in the year to date to the IPO success of $Arm Holdings (ARM.US)$ , which it acquired in 2016.
SoftBank owns roughly 90% of Arm even after the listing. Arm shares are up nearly 124% alone this year, as of the close on July 3.
SoftBank shares “have been benefitting from this vis-à-vis well-publicized” uses for Arm intellectual property, such as in the automotive industry or cloud data center.
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