Economy
SoftBank Shares Plunge 14% on AI Spending and Debt Concerns
Livemint6h
THE BRIEF
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SoftBank Group shares plummeted over 14% in Tokyo on Monday, marking their steepest one-day decline since late June due to investor reassessment of artificial intelligence bets.
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The selloff followed comments from OpenAI and Anthropic CEOs advocating a measured approach to AI development amid rising debt and a planned $6.5 billion bond sale.
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SoftBank shares closed down 10.72% at ¥5,839, extending their broader retreat to roughly 30% from their June peak.