SoftBank Surpasses Toyota as Japan’s Most Valuable Company

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On Monday, SoftBank surpassed Toyota as Japan’s most valuable company, with a market cap exceeding 46 trillion yen ($2.88 trillion). The surge followed SoftBank’s commitment of up to 75 billion euros to build an AI computing cluster in France. Toyota’s shares dropped nearly 4.5%, pushing its market cap below 46 trillion yen. On-chain data indicates rising interest in altcoins as technology-driven companies gain momentum.

Odaily Planet Daily report: AI demand has pushed Japan’s stock market to a record high, with SoftBank surpassing Toyota on Monday to become Japan’s largest company by market capitalization. Leveraging its significant exposure to OpenAI, the developer of ChatGPT, and its broader ambitions in AI, SoftBank has become the primary vehicle for this investment frenzy sweeping through Japan’s market.

SoftBank has risen nearly 73% so far this year, hitting another all-time high on Monday with an over 8% gain, after the company pledged to invest up to €75 billion in France to build a massive AI computing cluster network. Its market capitalization has now exceeded ¥46 trillion (approximately $288 billion). Toyota's market cap stood slightly above ¥48 trillion at Friday's close but fell nearly 4.5% on Monday, dropping below ¥46 trillion. The automaker surpassed telecommunications giant NTT Docomo as Japan's most valuable company by market cap in 2003. (Jin10)

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