SoftBank briefly overtook Toyota as Japan’s most valuable company after investors rewarded Masayoshi Son’s aggressive pivot into AI infrastructure.
The Japanese investment group’s shares jumped 14% on June 1 after SoftBank announced plans to build AI data center capacity in France. The rally lifted SoftBank’s market capitalization to 48.8 trillion yen, above Toyota’s 45.9 trillion yen, marking a major reversal for a company that spent years trying to recover from losses tied to WeWork and other Vision Fund bets.
The France plan is the clearest sign yet that Son is trying to turn SoftBank into a central player in the AI infrastructure buildout. SoftBank said it plans to develop up to 5 GW of AI data center capacity in France, with a first phase focused on 3.1 GW in the Hauts de France region by 2031.
The initial phase is expected to involve about €45 billion in investment over five years. The broader plan could reach €75 billion if additional sites are developed, making it one of Europe’s largest AI infrastructure commitments.
The project includes data center sites in Dunkirk, Bosquel, and Bouchain, with France’s power supply playing a central role in the pitch. AI data centers require enormous amounts of electricity, and France’s nuclear heavy grid gives the country an advantage as governments compete to attract compute infrastructure.
