Tokyo stocks were sharply higher Wednesday morning, led by rises in SoftBank Group following news it would be part of a massive artif
Tokyo stocks ended sharply higher Wednesday, driven by gains in semiconductor-related shares following news that SoftBank Group will
SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.
SoftBank Group shares jumped after the company and ChatGPT-maker OpenAI announced plans to invest up to half a trillion dollars in artificial-intelligence infrastructure in the U.S. Shares rose 8.8% to 10,060 yen, or equivalent to $64.69, on Wednesday in Tokyo, after climbing as much as 9.2% earlier, to their highest level since July.
Shares of technology companies rallied amid hopes for an acceleration of the artificial-intelligence boom.
SoftBank and OpenAI are backing a significant AI infrastructure project in the US, which includes major investments, new technology partnerships, and job creation.
President Donald Trump on Tuesday announced a major investment to build infrastructure for artificial intelligence led by Japanese giant Softbank, cloud giant Oracle and ChatGPT-maker OpenAI.
Two weeks before taking office, Trump announced a $20 billion investment from Dubai-based billionaire Hussain Sajwani for new data centers across the US.
SoftBank in India, like in many other parts of the world, is known for its investment in budding startups in various technologically driven avenues. On Wednesday, January 22, the company shares soared in the equity markets in Tokyo. The shares of the Japanese investment group rose after getting a much-needed boost from an unlikely source.
The US president says Stargate will build the physical and virtual infrastructure to power the next generation of advancements in AI.
Netflix, Oracle and other technology stocks are lifting U.S. indexes as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 rose 0.