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SoftBank stock hits first record high in 24yrs – Arm and AI helped it get there

SoftBank shares have been boosted by the improved financial performance in the Vision Fund and by a rally in the stock of chip designer Arm.

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. It looks like the write down cycle is mostly done, and there is a good chance that the IPO market will be more constructive going forward, especially for AI related investments," Oliver Matthew, head of Asian consumer research at CLSA, told CNBC by email. "I'm not sure that investors are convinced by the SoftBank story again," Baker told CNBC by email, adding that this year's share gain is "primarily" because Arm stock has risen, while the Japanese yen has weakened.

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