By P.R. Venkat
Shares in SoftBank Group are on course for an all-time closing high in Japan after Oracle, one of its key partners, said it won several multibillion-dollar artificial-intelligence deals.
The Tokyo-listed stock was recently 9.2% higher on Thursday after rising as much as 10% to 17,900 yen, equivalent to $121.38.
SoftBank is one of the largest backers of Stargate, a joint venture to build AI infrastructure for OpenAI in the U.S. Oracle and Abu Dhabi-based MGX are also equity partners in the project that could run to half a trillion dollars.
Andrew Jackson of Ortus Advisors, who publishes on Smartkarma, wasn't surprised by investors' enthusiasm for the Japanese tech investment company.
"Expect a nice bump higher for Softbank Group on this after its 7.3% move higher yesterday as investors joined the dots between this and Oracle's connection, when only months ago Masayoshi Son [SoftBank chief executive] and Larry Ellison [Oracle chairman] stood together as Trump announced the Stargate program," he wrote.
Oracle shares soared 36% overnight, their best one-day percentage gain since 1992, after the database-software giant said it signed several multibillion-dollar contracts in its latest quarter and expects more such deals in the next few months. The Wall Street Journal reported Wednesday afternoon that OpenAI and Oracle signed a $300 billion computing deal, among the biggest cloud contracts ever signed.
News Corp, owner of The Wall Street Journal and Dow Jones Newswires, has a content-licensing partnership with OpenAI.
"Investors are also enthusiastic following Oracle providing a blockbuster outlook for future revenues associated with artificial intelligence, which is propelling confidence that the tech-fueled bull market has further to run," Jose Torres, senior economist at Interactive Brokers, said in a note.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
September 11, 2025 00:04 ET (04:04 GMT)
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