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Benzinga
Benzinga
Business
Namrata Sen

Tokyo-Listed SoftBank Shares Climb 13% After ABB Robotics Deal Boosts Outlook

SoftBank Tokyo SoftBank Group Japan Bitcoin OpenAI
Softbank,Sign,At,Softbank,Vision,Fund,Headquarters,In,Silicon,Valley.

Tokyo-listed shares of SoftBank Group (OTC:SFTBY) (OTC:SFTBF) jumped as much as 13% after the Japanese giant agreed to acquire Swiss engineering firm ABB‘s (OTC:ABBNY) Robotics unit in a deal valued at $5.4 billion.

Its shares closed up 11.4% at JPY 22,965 on Thursday, amid expectations that the company would benefit from its series of bets on artificial intelligence, thanks to the ongoing boom in the rapidly evolving technology.

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