SoftBank Group Corp. Shares surged 12% after the company announced that it would acquire OpenAI, Oracle Corp. and is working with Abu Dhabi-backed MGX on a $500 billion plan to build data centers and infrastructure in the US for the creator of ChatGPT.
The Softbank founder’s stock rose to its biggest intraday gain since August. Masayoshi son Said the four would invest in a joint venture that would spend $100 billion “immediately” on infrastructure and aim to spend at least $500 billion over the next four years to build more computing power. SoftBank said in a statement after US President Donald Trump’s AI push announcement that Microsoft Corp. and chipmaker Nvidia Corp. Companies including will provide the technology.
