SoftBank trades above record-high close in win for Masayoshi Son

SoftBank Group Corp. shares traded above the company’s lifetime closing high for the first time in three years, buoyed by a global surge in AI and chip investment.

The Japanese tech investor is gaining investor attention as its telecom arm moves aggressively to invest in generative AI, tying up with Microsoft Corp. and startup Perplexity AI Inc., while winning government subsidies to help it build data centers stocked with Nvidia Corp. accelerators. Its chip unit Arm Holdings Plc is also trying to position its architecture as a means to conserve energy in devices running artificial intelligence.