Japan's SoftBank shares swept up in AI chip frenzy ahead of Arm IPO

Japan's SoftBank shares swept up in AI chip frenzy ahead of Arm IPO

FILE PHOTO: SoftBank's logo is pictured at a news conference in Tokyo, Japan, Feb. 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo

SoftBank Group Corp shares jumped 5% in early Friday trade as the technology investor – which is preparing an initial public offering of chip designer Arm – was caught up in a frenzy for semiconductor and artificial intelligence-related stocks.