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.

The rally is a vindication for SoftBank founder Masayoshi Son, whose reputation has been tarnished by big startup bets that cost the company billions of dollars in recent years. SoftBank’s close ties with Nvidia and OpenAI have strengthened the company’s position amid a global race to build AI-related infrastructure.

The darling of retail investors, SoftBank shares remain volatile. During the dot-com boom and bust, the company lost 99% of its market capitalization, erasing $70 billion of Son’s wealth. Its stock regained ground through two decades of effort rolling out broadband networks in Japan, selling the country’s first Apple Inc. iPhones and investments in some of the world’s biggest startups.

But its shares plunged again in 2021 in the wake of Beijing’s crackdown on tech firms and a flurry of missteps including investments in startups such as WeWork Inc., Katerra Inc., OneWeb Ltd. and Zume Pizza Inc.For Tesla, a Smaller Drop in Sales Is Something to Celebrate -- Steve Ballmer passed Bill Gates on Monday to become the sixth-richest person in the world, the first time the former chief executive officer of Microsoft Corp. has been wealthier than the company’s co-founder.

The best investor is one who's informed, but obsessing over your retirement fund's performance can stress you out and trigger the kind of emotional and counterproductive decision-making that can...Shares of Chewy fell Monday in volatile trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer.

Source: News Formal (newsformal.com)

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