SoftBank stock hit its first record high in 24 years because of the push into artificial intelligence and computer chips

SoftBank shares have been boosted by the improved financial performance in the Vision Fund and by a rally in the stock of chip designer Arm.

The climb indicates confidence in the investment titan’s new pivot towards AI and semiconductor chips after CEO Masayoshi Son last month described past commitments as a mere “warm up” for its push into artificial intelligence.