SoftBank shares fall on report of OpenAI IPO delay

Key Facts

Amid a broad tech selloff, SoftBank Group shares fell after a report that OpenAI may delay its initial public offering until next year, according to MarketWatch citing sources. The report reignited investor concerns about the sector's outlook, pushing the stock lower in Friday's session amid selling pressure on tech-related equities.

The decline was mirrored in SoftBank's Tokyo-listed shares (9984.T), which closed at 6,157 yen (close June 26) after hitting an intraday low of 6,114 yen, per market data. SoftBank Group is a major AI investor, and its partnership with OpenAI is central to its growth strategy, making the stock highly sensitive to developments around the startup. The news comes as the tech sector faces headwinds from global economic slowdown fears and tighter monetary policy.

At the June 25 close, SFTBY stood at $20.88, below its intraday high of $21.96. Investors await any official clarification from OpenAI on the IPO timeline, as well as global inflation data and central bank commentary that could influence risk appetite in equity markets.

Version History