What's Going On With DigitalBridge Stock Friday?

DigitalBridge Group, Inc. (NYSE:DBRG) shares are trading higher after Bloomberg reported SoftBank is in talks to buy the company.

What To Know: According to Bloomberg, SoftBank is in discussions to acquire DigitalBridge Group Inc. and take it private as the conglomerate looks to capitalize on rising demand for AI-driven digital infrastructure. People familiar with the matter said the talks are ongoing and a deal could materialize in the coming weeks, though nothing is guaranteed.

DigitalBridge shares have fallen 13% this year and carry a market value of about $1.8 billion. The company, led by CEO Marc Ganzi, reported roughly $108 billion in assets under management at the end of September and holds stakes in operators including AIMS, AtlasEdge, DataBank, Switch, Vantage Data Centers and Yondr Group.

Representatives for both companies declined to comment on the discussions.

SoftBank has previously pursued deals in asset management, including its 2017 purchase of Fortress Investment Group. The company has also been ramping up efforts in digital infrastructure. In January, it unveiled a $500 billion data-center project called Stargate alongside OpenAI, Oracle and Abu Dhabi's MGX, although progress has been slower due to disagreements over site locations and shifting market conditions.

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DBRG Price Action: At the time of publication, DigitalBridge shares are trading 32.72% higher at $12.90, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.