Last I saw the stock was down 12.25% (-872.00 yen)
From CNBC, June 25:
SoftBank sinks 12% as Asia tech rout tracks declines in the U.S.
- SoftBank Group plunged 12%, leading a broad selloff in Asian technology stocks.
- The weakness also spilled into Asia’s semiconductor sector.
- Apple and Microsoft price hikes added to pressure on global technology shares.
SoftBank Group plunged more than 12% on Friday, leading a broad selloff in Asian technology stocks, amid mounting concerns over the rising cost of artificial intelligence infrastructure.
The Japanese conglomerate led losses across the region after the Nasdaq Composite fell for a fourth straight session overnight. The tech-heavy index dropped 0.46% as a 6% plunge in Apple overshadowed Micron’s stronger-than-expected earnings.
SoftBank Group could remain under pressure after its chip designer Arm Holdings fell 3.2% overnight, underperforming the broader semiconductor sector even as AI-related stocks rebounded sharply.
Andrew Jackson, an equity strategist at Ortus Advisors, said investor enthusiasm for SoftBank may also be capped by reports that OpenAI could delay its initial public offering until next year as it struggles to secure demand at a $1 trillion valuation.Qualcomm’s new AI data center chip deal with Meta is ultimately positive for Arm through royalty payments, Jackson added. However, Arm also faces growing competition as Qualcomm expands more aggressively into the central processing unit market....
....MUCH MORE
A couple days ago we saw at Reuters:
Talk of a bubble is 'blasphemy against AI' says SoftBank's Son
Recently:
June 15 - Reminder: "Big Tech profits are being inflated by stakes in private startups"
We saw this most egregiously with SoftBank.*
June 9 - "SoftBank’s Attempt to Get $6 Billion OpenAI Margin Loan Stalls"
Good. I'm not kidding when I say Mr. Son's penchant for leveraged beta could be a threat not just to the AI players but to the world economy. If the largest domino starts dropping it's hard to see it stopping short of a coordinated international bailout.
Keep an eye on 9984 - Tokyo Stock Exchange...
