Nikkei and Kospi: Record highs on AI euphoria

Nikkei and Kospi: Record highs on AI euphoria

SoftBank Group [SFTBY] surged more than 18% in Tokyo on Thursday, as investors returned to artificial intelligence (AI) and technology stocks. The rally helped lift Japan’s Nikkei 225 to a record high, while semiconductor-related names including Tokyo Electron [TOELY] and Advantest [ATEYY] also advanced. Meanwhile, Samsung Electronics [SSNLF] rallied 14% to surpass a $1tn valuation, helping push South Korea’s Kospi to a record high, the Financial Times detailed.

Arm reports high demand for its first chip

Earlier this week, SoftBank-backed Arm [ARM] said demand for its new AI chip is expected to generate $2bn in sales across 2027 and 2028. The group reported quarterly revenue of $1.5bn, broadly in line with expectations, and guided current-quarter revenue slightly above forecasts. Nonetheless, shares fell some 8% after the earnings call. The company also noted weakness in the smartphone market due to memory chip shortages driven by AI data centre demand.

How does xAI have AI capacity to rent?

Anthropic has agreed to access more than 300MW of computing power from xAI’s Colossus 1 data centre in Tennessee. Writing for The Information, Martin Peers wondered why xAI would rent out its AI computing capacity, considering “AI firms with leading models need all the computing capacity they can get”. The answer, he speculated, is that its model Grok “isn’t getting much traction.” Becoming a cloud operator is “at least a way for xAI … to make some money.”  

Is Robinhood declining, or in the midst of a transition?

Following this week’s earnings call, Robinhood’s [HOOD] near-term outlook remains contested. Bears point to its continued reliance on volatile crypto trading and rising costs. Bulls, however, see a platform in transition towards recurring revenues, deeper user engagement and new products like Gold and prediction markets. CMC Aureon argues that, if the shift holds, recent weakness may look less like structural decline and more like a cyclical reset.

UK quantum startup gets EU funding

Kembara, an EU-backed technology growth fund, has made its first investment, backing Quantum Motion in a $160m Series C round led alongside DCVC. The company, founded by academics from University of Oxford and University College London, develops silicon-based quantum computers. It has entered a partnership with GlobalFoundries [GFS] and has already delivered a system to the UK’s National Quantum Computing Centre, a research facility.

Will CLARITY finally be cleared in July?

The White House is targeting 4 July for Congress to pass the Digital Asset Market Clarity Act, according to Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, speaking at Consensus Miami, Seeking Alpha reported. The proposed timeline includes Senate committee review this month, Senate passage in June and a House vote before Independence Day. 

What’s Wall Street’s take on Pinterest’s Q1 beat?

Pinterest’s Q1 2026 update supports the bull case that the platform is shifting from passive discovery to a performance-driven ad engine. Revenue rose 18%, monthly active users hit 631 million and engagement in high-intent search surfaces is strengthening monetisation potential. However, as CMC Aureon details, margins remain flat, marketing spend is rising, and dependence on cyclical retail advertisers keeps profitability and execution risk in focus.