Japan's Nikkei extends gains as AI stocks rally

Japan's Nikkei 225 Index rose 1.31% to close at 61,249 on Wednesday, marking its third consecutive session of gains. The rally was supported by stronger-than-expected results from AI computing provider CoreWeave, which helped ease concerns about the outlook for the artificial intelligence sector.

Positive sentiment was further boosted by reports that Anthropic could begin trading as early as next week. The company is reportedly planning to raise up to $90 billion at an estimated diluted valuation of around $1.4 trillion. This lifted investor interest in AI-related companies.

Technology stocks led the market gains, with Kioxia Holdings rising 5.6%, Advantest gaining 5.9%, Taiyo Yuden climbing 7.3% and Lasertec advancing 6.3%.

However, SoftBank Group shares declined after the company reported its first net loss in nearly two years. The loss was mainly driven by a $3.7 billion impairment charge on its US data-centre projects and falling valuations across the AI sector.

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