Toyota's 20-year run as Japan's most valuable company ended with SoftBank overtaking it today. The company founded by Masayoshi Son has a market value of $305.28 billion, overtaking Toyota's $247.56 billion.
SoftBank shares jumped 14% today, driven by the market's bias towards companies involved in artificial intelligence (AI). Since the beginning of the year, SoftBank's shares have nearly doubled after it began buying shares of OpenAI and sold its stake in Arm.
It completed a $40 billion investment in OpenAI last year with plans to add another $30 billion. This is an example of SoftBank's successful future bets, as previous investments in WeWork, Oyo and Wirecard have caused the company to suffer huge losses.
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