The Nikkei 225 Index continued its freefall as technology companies like Softbank, Tokyo Electron, Kioxia, and Advantest plunged ahead of the upcoming big-tech earnings. It plunged by over 4%, reaching its lowest level since June 11.
SoftBank extended Asia's technology rout on Friday, sliding 9.7% by Tokyo's midday break as investors continued pulling money from the region's most crowded artificial-intelligence trades. The fall followed a brutal Thursday in Seoul, where SK Hynix tumbled 13%, Samsung Electronics lost 8.8% and the Kospi sank 6.4%.
Japanese AI-linked stocks tumbled on Friday as a fresh rout in U.S. semiconductor shares spread across Asia. The declines followed another weak session for U.S. technology stocks.
The development of AI will require investment of $5 trillion each year by 2040, and any talk of a bubble forming around the technology is "absurd", SoftBank Group CEO Masayoshi Son said on Tuesday.
OpenAI originally planned to go public in late 2026, but it now looks like that won't happen until 2027. A $40 billion loan that SoftBank took out to support its OpenAI investment comes due in March 2027.
SoftBank Corp and mobile payments operator PayPay are in talks to invest in retail giant Seven & i Holdings , Bloomberg News reported on Friday.
Arm Holdings CEO Rene Haas discusses SoftBank Corp.'s developments as it looks to lead the A.I. data center race on 'The Claman Countdown.
SoftBank Group stock rose on Thursday after a report said the Japanese investor had revived talks for a $10 billion loan backed by its OpenAI stake. The development gave markets another reason to bet on Masayoshi Son's artificial intelligence push.
SoftBank's LY Corp and Bain Capital have raised their bid for Kakaku.com again, valuing the Japanese price-comparison website operator at 670 billion yen ($4.12 billion) and widening their lead over a rival offer from Sweden's EQT.
Asian technology stocks fell sharply on Friday, as SoftBank Group tumbled more than 12% and chip-heavy markets from Tokyo to Seoul came under fresh pressure. The selloff followed a fourth straight decline on the Nasdaq, where Apple sank 6.1% after announcing price increases for iPads and MacBooks to offset surging memory and storage chip costs.
SoftBank Group plunged 11%, leading a broad selloff in Asian technology stocks. The weakness also spilled into Asia's semiconductor sector.
SoftBank founder and CEO Masayoshi Son told shareholders on Wednesday that artificial intelligence is still in its early stages and any talk of a bubble is "an insult to AI".