SoftBank Group Corp stock closed at a record high. The shares jumped 10% to close at 17,905 yen per share. SoftBank Group Corp achieved its highest closing price since listing in Japan after one of its major partners, Oracle Corporation, announced winning several multi-billion dollar artificial intelligence deals.

SoftBank is one of the largest supporters of "Stargate," a joint venture building AI infrastructure for OpenAI in the United States. Oracle and Abu Dhabi-based MGX are also equity partners in this project, which could reach a scale of up to $500 billion.

Andrew Jackson of Ortus Advisors was not surprised by investor enthusiasm for the Japanese technology investment company. He wrote: "Following yesterday's 7.3% gain, SoftBank Group Corp's stock is expected to see a nice uptick as a result, with investors linking this development to Oracle's connection. Just months ago, when Trump announced the 'Stargate' plan, SoftBank CEO Masayoshi Son and Oracle Chairman Larry Ellison stood together."

Oracle's stock soared 36% the previous night after the database software giant reported signing multiple multi-billion dollar contracts in its most recent quarter and projected more such deals in the coming months, marking its largest single-day percentage gain since 1992. Media reports on Wednesday afternoon indicated that OpenAI and Oracle signed a $300 billion computing agreement, one of the largest cloud contracts ever signed.

Jose Torres, senior economist at Interactive Brokers, said in a report: "Investor enthusiasm is also running high after Oracle provided a blockbuster outlook for AI-related future revenue, which strengthens confidence that the tech-driven bull market has further room to rise."