SoftBank Shares Surge to Record on AI-Fueled Profit Recovery (1)

SoftBank Group Corp. shares surged to a record after it swung to a quarterly profit, an affirmation for Masayoshi Son’s bets on artificial intelligence players such as Nvidia Corp.

A recovery at SoftBank’s signature Vision Fund and the sale of assets such as its T-Mobile US Inc. holdings are helping Son double down on bets geared to help him capitalize on booming investment in AI hardware. SoftBank, which had sold $4.8 billion worth of its stake in the US telecom company in June, revealed the sale of another $3 billion of the US carrier’s stock.

That raised the ...