SoftBank poised to surpass Toyota as Japan's most valuable company as AI-related shares surge

SoftBank Group's market value climbed above ¥46 trillion ($288 billion), surpassing Toyota's roughly ¥45.8 trillion, after shares rose as much as 10% in Tokyo trading Monday. SoftBank shares have gained more than 80% this year, while Toyota shares have fallen more than 10% this year.

The shift reflects investor momentum toward companies benefiting from AI development. SoftBank's gains were driven by news that two portfolio companies — OpenAI and SB Energy — were preparing for potential U.S. listings.

If gains hold through market close, SoftBank will surpass Toyota in market value for the first time in more than two decades. The last time SoftBank briefly achieved this ranking was in 2000, during Japan's internet bubble peak.