TOKYO: Shares in SoftBank Group Corp jumped 5% in early trading in Tokyo as the tech investing conglomerate, which is preparing to list chip designer Arm, was caught up in the frenzy for semiconductor and AI-related stocks.

While shares in the Japanese conglomerate, which has been hit by the slumping value of its tech portfolio, have gained 17% since Friday’s close they are up only 6.4% year-to-date.

SoftBank books narrower loss after Alibaba stake sell-down

That compares with a 172% gain by chip maker Nvidia Corp this year and a 38% rise in the Philadelphia SE Semiconductor Index.