SoftBank Jumps 16.5% as AI Chip Rally Lifts Japan Stocks on May 7

According to CNBC, SoftBank Group rose 16.5% on May 7 after Japan’s markets reopened from the Golden Week break. The gains came as investors chased a global rally in AI and chip stocks that lifted the Nikkei 225 to a record high. Advantest rose 7.8%, Tokyo Electron gained 9.2%, and Renesas Electronics climbed 13.8%. SoftBank was also supported by its stake in Arm, whose shares rose 13% overnight in the US.