Shares of SoftBank Group jumped 19.8% on Thursday, adding approximately $35 billion to its market capitalization, driven by strong earnings from Nvidia and renewed optimism around artificial intelligence investments.

The Japanese conglomerate’s stock rallied after Nvidia posted a revenue surge of 85% to $81.62 billion, signaling robust demand for AI technologies. SoftBank’s exposure to the AI boom is significant through its stake in Arm Holdings, whose chip designs power AI servers, and its majority investment in OpenAI, valued at over $30 billion.

SoftBank’s Vision Fund reported a $46 billion annual gain, largely attributed to OpenAI’s soaring valuation. The company’s investment in the AI startup has generated $45 billion in gains over the past fiscal year. Analysts suggest a potential OpenAI public listing is fueling market optimism, boosting both SoftBank and Arm Holdings shares, which rose over 15% in U.S. trading.

The broader semiconductor sector also climbed, with Taiwan’s TSMC gaining 2.3%, Japan’s Renesas Electronics up 7%, and Tokyo Electron rising 5.44%. SK Hynix and Samsung Electronics each surged over 6.7%, reflecting supply chain strength tied to Nvidia’s AI chip demand.