SoftBank Stock Sets New Record

Much about the SoftBank 9984 -0.14% of two decades ago would look familiar to investors today, starting with its guiding principle of betting big on the next tech revolution. Then, as now, global stock markets were on a tear, startups were listing at eye-popping prices, and SoftBank was building a huge stable of private companies. "Structurally, we're at the beginning of the AI [artificial intelligence] revolution, just as we were at the beginning of the internet revolution" in 2000, SoftBank Chief Executive Masayoshi Son said at a press conference in Tokyo last week where the company reported around $11 billion in quarterly profit. The differences are important, too. Analysts say today's SoftBank, known for its $100 billion Vision Fund, is more capable of withstanding market turbulence, even if stocks take a dive again.