Tokyo Stocks Rise on AI and Semiconductor Gains

Tokyo stocks rose on Wednesday morning, driven by gains in artificial intelligence and semiconductor-related shares. The Nikkei Stock Average climbed 1.28% to 66,318.81, while the Topix index increased 0.86% to 4,076.04.

The dollar dipped briefly to 156 yen, but rebounded slightly to trade around 156.68-70 yen against the Japanese currency. The euro also saw a slight decrease in value, fetching $1.1339-1340 and 177.66-68 yen.

Softbank Group led gains after reports suggested OpenAI's annualized revenue could reach $70 billion, following an earlier estimate of $40 billion in August. This has investors optimistic about the company's growth prospects.