SoftBank Group Corp. (SOBKY) is at the epicenter of a global AI selloff, significantly impacted by its association with OpenAI amid doubts following Alphabet’s Gemini 3.0 launch. Since late October, SoftBank’s stock has plummeted by about 40%, incinerating over 16 trillion in value, despite reaping a $14.6 billion gain from its OpenAI stake. CFO Yoshimitsu Goto highlighted the uncertainty surrounding AI valuations, reflecting shifting investor sentiment. While shares briefly surged 8% after SoftBank’s $6.5 billion acquisition of Ampere Computing, concerns remain due to a looming $22.5 billion payment to OpenAI and plans for a $5.4 billion purchase of ABB’s robotics unit. Analysts note that SoftBank’s fortunes are now closely linked to OpenAI’s, especially post-Gemini 3.0. CEO Masayoshi Son’s focus on AI investments, including increased stakes in chip design, raises questions in an evolving market where competitive positioning may soon outweigh hype.
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