SoftBank jumps more than 10%

SoftBank jumped more than 10% in Wednesday trading, according to CNBC, as Asian technology stocks climbed after a record-setting Wall Street session. For investors watching the group, the move put SoftBank alongside major Japanese and South Korean chip-related companies that also posted sharp gains.

CNBC reported that the S&P 500 and Dow Jones Industrial Average reached fresh records in the prior U.S. session. The Nasdaq Composite gained 2.59% to finish at 26,584.99. The report cited strong corporate earnings and lower oil prices, linked to hopes that the Strait of Hormuz could reopen, as factors behind the U.S. advance.

Why did SoftBank jump more than 10%?

The immediate backdrop was the broader rise in Asian technology shares after Wall Street’s rally, CNBC reported. Andrew Jackson, a strategist at Ortus Advisors, said the U.S. semiconductor move strengthened the outlook for Asian AI-linked names.

Jackson also said he expected SoftBank to extend its gains after Arm rose overnight. CNBC described Arm as SoftBank’s majority-owned chip-design subsidiary and said the optimism around Arm concerned potentially higher AI-related data-center royalties and CPU development plans. That is Jackson’s market view, rather than a confirmed explanation for SoftBank’s share-price move.

Arm’s May shareholder letter reported that quarterly licensing revenue rose 29% from a year earlier to $819 million and royalty revenue increased 11% to $671 million. Arm said its data-center royalty revenue more than doubled year over year, though those figures are company-reported results.

Which Asian technology stocks rose alongside SoftBank?

The rally extended across companies named in CNBC’s market report:

• Tokyo Electron gained 3.64%.
• Advantest rose 7%.
• Kioxia climbed 6.34%.
• SK Hynix advanced 6.9%.
• Samsung Electronics gained more than 4%.
• Seoul Semiconductor rose 7.6%.

The session followed a period of volatility for the same area of the market. On June 10, SoftBank fell 8.3% during a broader technology selloff, CNBC reported, while the report cited Wall Street losses and concerns over stretched AI-related valuations. That earlier decline was a separate trading session, but it shows how sharply sentiment around AI-linked technology stocks had recently shifted.

For now, the Wednesday move shows a broad regional response to improved U.S. market sentiment, while the Arm development was an additional point highlighted by Jackson for SoftBank specifically.

This story draws on original reporting from CNBC.