Softbank Group Corporation shares rose 1.5%, reaching an all-time high on Tuesday, July 2. The rise comes just a few years after the company's shares plummeted following the shuttering of several high-profile tech startups, including WeWork, and the Chinese government's tightening policies on the tech sector.

According to analysis, the Japanese company's recent rise is attributed to its focus on artificial intelligence (AI) and the performance of its computer subsidiary Arm Holdings.

As Cointelegraph recently reported, company founder and chairman Masayoshi Son announced that Softbank will be more involved in artificial intelligence technologies. He told the audience at the annual company meeting in Tokyo that the company would focus on AI and was born to create "super-intelligent artificial intelligence."

Following this announcement, the company's shares fell 3%, but quickly recovered, sending the company's shares to a record high.

However, nearly 24 years ago, Softbank invested heavily in dotcom startups, driving share prices to previous record highs, only to lose 99% of its total value when the bubble burst in March 2000.

Softbank was not the only company to suffer from the bursting of the dotcom bubble, and like many of its contemporaries of the time, it still exists today to reach new heights. However, it is worth noting that it will be decades before Softbank Group recovers.#Softbank#AI #Blockchain

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