SoftBank Shares Crater 12% After Report OpenAI IPO Is Delayed
Nikkei Asia—SoftBank shares tumbled more than 12% after Bloomberg reported that OpenAI's highly anticipated IPO has been pushed back, dealing a blow to the Japanese conglomerate's bet on artificial intelligence. SoftBank has made OpenAI one of its largest investments and its share price is closely tied to the startup's valuation trajectory. Nikkei Asia confirmed the selloff, noting the drop was one of SoftBank's sharpest single-day declines in recent months.