SoftBank Group shares rose as much as 8% in Tokyo trading on Tuesday, extending a rally that began after last week’s stronger-than-expected earnings and underscoring investor confidence in Chairman Masayoshi Son’s widening push into artificial intelligence. The stock touched an intraday high near its record ¥14,205 close reached on 8 August, when it jumped 13% after the company reported April-to-June net profit of ¥421.8 billion ($2.9 billion). SoftBank has committed up to $30 billion to ChatGPT-maker OpenAI, is lining up a roughly $6.5 billion purchase of chip designer Ampere Computing and is refocusing its Vision Fund portfolio on AI assets. Market enthusiasm for the strategy helped lift Japan’s Topix index above the 3,000-point mark, while Forbes said the surge restored Son to the top of the country’s rich list. Analysts cite SoftBank’s lower 17% loan-to-value ratio and rising portfolio valuations as further support for the shares. The broader venture landscape is echoing the sentiment: venture capital firms channelled a record $49 billion into generative-AI deals in the first half and new specialist vehicles—such as former OpenAI researcher Jenny Xiao’s $25 million Leonis Capital fund—are multiplying, even as industry dry-powder levels fall. Investors view SoftBank’s latest gains as an early barometer of how quickly large, diversified tech holding companies can benefit from the AI spending boom.