Shares in SoftBank Group jumped more than 13% to a record high on Friday morning in a show of investor support for the Japanese technology investor's AI push after first quarter profit beat expectations.

SoftBank Group Corp. is the buyer taking ownership of Foxconn Technology Group’s electric vehicle plant in Ohio, a move aimed at kick-starting the Japanese company’s $500 billion Stargate data center project with OpenAI and Oracle Corp.

Earlier this week, Foxconn Chairman Young Liu confirmed that SoftBank has acquired its Ohio plant to build new AI servers in the US. The transaction was

Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.

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SoftBank announced on Tuesday a $2 billion investment in Intel that will add to the Japanese tech investor's ambitious bet on artificial intelligence and the chip industry.

Son is also pursuing a $6.5 billion acquisition of Ampere Computing and reportedly eyeing up to $30 billion in OpenAI funding. But execution isn't running on schedule. For the first time, SoftBank's CFO admitted that Stargate is delayed.

SoftBank’s billionaire founder Masayoshi Son held talks with Intel’s chief executive about buying its faltering contract chipmaking business in the weeks before Monday’s announcement that the Japanese company would invest $2bn in the US group’s shares.