SoftBank Group extends scorching rally with shares in OpenAI, Arm-backer surging over 11%

Key points

• The logo of Japanese company SoftBank Group is seen outside the company's headquarters in Tokyo on January 22, 2025. SoftBank Group shares extended their scorching rally to a second day, rising over 11% Friday, and building on momentum after Nvidia's blockbuster earnings boosted AI-linked stocks.
• The company's shares had closed 20% higher Thursday, adding over $35 billion to its market cap.
• Softbank rally is also being powered by a sharp rise in Arm Holdings, in which the Japanese company holds a majority stake.
• Arm shares advanced over 16% overnight, after gaining more than 15% in the prior session.
• "SoftBank Group's share price is simply reflecting the moves of some of its stake holdings, including Arm, whose share price has been surging, and OpenAI which may file for an IPO in the coming weeks," UBP's senior equity advisor Vey Sern Ling told CNBC.