SoftBank set to dethrone Toyota as Japan’s most valuable company
SoftBank Group Corp. is poised to overtake Toyota Motor Corp. as Japan’s most valuable company, marking a milestone for the global artificial intelligence boom and a dramatic reshuffling of the country’s corporate hierarchy.
Shares of the Masayoshi Son-led technology group climbed as much as 10% in Tokyo trading Monday, as AI-related shares climbed across the region. SoftBank shares have been gaining since news broke that two high-profile portfolio companies – OpenAI and SB Energy Corp. – were preparing for potential US listings. Toyota meanwhile dropped as much as 4.9%.
