SoftBank la capitalisation boursière dépasse 43 trillions de yens, l'IPO d'OpenAI devrait stimuler le cours des actions avec une hausse de 40 % en une semaine

SoftBank SoftBank stock today (26th) rose 7.55% in a single day on the Tokyo market, surpassing a market value of 43 trillion yen, with a cumulative increase of over 40% in a week; the driving forces come from rumors of OpenAI IPO heating up, and its subsidiary SB Energy, focused on power infrastructure, announcing plans to secretly apply for a listing in the U.S.
(Background summary: The largest single-round financing in history: OpenAI completed a $122 billion fundraising, with a valuation soaring past $852 billion)
(Additional background: SoftBank pledged OpenAI shares for a $10 billion loan, with Masayoshi Son betting on AI with leverage)

Known for "betting on the future of technology," SoftBank today (26th) rose 7.55% in a single day on the Tokyo market, surpassing a market value of 43 trillion yen, and even more astonishingly, with a weekly increase of over 40%.

The imagination space of 40 trillion yen

The core driver behind this rally is: OpenAI is preparing to submit an IPO application soon. Bloomberg pointed out that the news of OpenAI's IPO has caused the market to boil, because once OpenAI goes public, the long-standing issue of opaque valuation in AI investment circles—those supported by "latest funding round valuations"—will first face market pricing scrutiny.

Senior analyst Takashi Nakagawa from Tokai Tokyo Research Institute told Bloomberg that the market has been期待ing the long-awaited IPO of OpenAI "extremely excited," but he also added: "Currently, the stock price is purely driven by expectations, and I want to see how OpenAI's market value ultimately stabilizes."

Meanwhile, SB Energy, a subsidiary of SoftBank focusing on power generation and grid management, also announced plans to secretly apply for an IPO in the U.S.

Over the past year, SB Energy has raised more than $1.8 billion from SoftBank, OpenAI, and asset management firm Ares Management, making it a core piece in Masayoshi Son's deployment of data centers in the U.S. The simultaneous signals of IPO from both companies effectively bring SoftBank's "hidden assets" to the surface.

Leverage bet of 65 billion dollars

SoftBank is one of OpenAI's largest shareholders, with a committed total investment approaching $65 billion, and is expected to acquire about 13% of ChatGPT's developer in October this year.

Last year, SoftBank participated in OpenAI's largest single-round financing of $122 billion, with a valuation reaching $850 billion at that time. Now, if OpenAI goes public, this paper investment will be valued at real market prices, rather than relying solely on private valuation support.

Bloomberg also pointed out that one of the past market concerns about OpenAI was the continuous rise of competitors like Anthropic, Google's Gemini, Elon Musk's xAI, which diluted OpenAI's moat narrative. This rally shows that the IPO news has re-affirmed some investors' confidence in OpenAI's market position, and this confidence is directly reflected in SoftBank's stock price.

But Takashi Nakagawa's words are worth reserving: "Currently, it's purely expectations." OpenAI has not yet officially filed for an IPO, and SB Energy's application is also a "secret submission," meaning all key figures—revenue, losses, pathways—are still in a black box.

The reason IPO excites the market is precisely because it means this black box is about to open. But what we see after it opens will be the real test.