SoFi Stock Is Rising. Private Markets Push and Trump Tax Bill Give Shares a Boost.

SoFi Technologies said it would offer private markets funds with exposure to companies like OpenAI and SpaceX. (Dreamstime)

Shares of SoFi Technologies surged Tuesday after the fintech said it was expanding alternative investment opportunities in a bid to attract “a new generation of investors.”

The company unveiled a slate of new private markets funds from asset management firms including Cashmere, Fundrise and Liberty Street Advisors. These funds will offer investors exposure to private companies including OpenAI and SpaceX, SoFi said.

The company gradually has xpanded its offerings over the past year with a suite of funds managed by ARK, KKR, Carlyle, and Franklin Templeton. At the end of 2024, SoFi partnered with BlackRock to launch a new-and-improved robo-advisor with access to some alternative assets.

Shares climbed 7.3% to $20.64 on Tuesday and were on pace to extend their winning streak for the fourth consecutive day. The latest gains put the stock on track for its highest close since Nov. 17, 2021, according to Dow Jones Market Data.

The stock appeared to be getting an additional boost from President Donald Trump’s tax-and-spending plan, which was signed into law Friday. The bill includes tighter limits on federal student loans, capping lifetime borrowing at $100,000 for graduate students and $200,000 for professional programs such as medical school. In theory, this could nudge borrowers in the direction of private lenders like SoFi.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com