SoftBank Group's shares jumped as much as 8% on Tuesday on bets that the tech investor would be able to capitalize on its yearslong focus on artificial intelligence. The Tokyo-based company is the unnamed buyer of Foxconn Technology Group's electric vehicle plant in Ohio and plans to incorporate the facility into its 500 billion Stargate data center project with OpenAI and Oracle. That's spurring optimism that SoftBank may be able to kick-start the stalled Stargate endeavor and benefit from a rush to build AI hardware in the U.S. Its stock is up for the fifth straight day and on track to close at a record. SoftBank has been gradually cashing in on some of its Vision Fund bets in recent years. SoftBank's stock also received a boost after a report emerged that the Japanese company has picked investment banks for a possible initial public offering for Japanese payments app operator PayPay.