SoFi Technologies Inc. (SOFI) shares surged 5.04% in pre-market trading on Tuesday, as the company announced significant expansions to its investment offerings, including new partnerships to provide retail investors with access to private markets and venture capital funds.

The fintech company has partnered with Cashmere, Fundrise, and Liberty Street Advisors to broaden its investment portfolio, allowing its 10.9 million members to invest in private companies across sectors such as AI, machine learning, and space technology. Notably, the collaboration with Cashmere enables SoFi Invest members to access The Cashmere Fund (Ticker: CSHMX) with a minimum investment of just $500, marking Cashmere's first distribution through a national brokerage platform. These moves align with SoFi's goal of democratizing access to alternative investments and providing diversification options for retail investors.

The stock's upward momentum is further supported by SoFi's recent performance, with shares hitting a new 52-week high on Monday. Investors are also anticipating the company's upcoming second-quarter earnings report, scheduled for July 29. Additionally, SoFi's plans to introduce cryptocurrency trading later this year and integrate blockchain technology across its services have contributed to the positive sentiment surrounding the stock. As SoFi continues to expand its offerings and demonstrate strong growth potential, investors appear increasingly optimistic about the company's future prospects.