SoftBank Stock Rises on CEO’s Plan for $100 Billion Chip Project

SoftBank Group Corp.’s stock rose as founder Masayoshi Son considers the creation of a $100 billion chip venture that would supply AI-enabling semiconductors.

Shares in the Tokyo-based tech investor gained as much as 3.2% after Bloomberg News reported the 66-year-old billionaire is seeking funding for a foray into AI chips to compete with Nvidia Corp. The project, code-named Izanagi, would is aimed at building an AI chip venture that would complement Arm Holdings Plc, the chip design company in which SoftBank holds a majority stake.

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