SoftBank Group Stock Plunges Nearly 10% as OpenAI Growth Scare Hits Masayoshi Son’s AI Bet
SoftBank Group shares fell 9.86% to 5,268 yen in Tokyo on Tuesday after reports that OpenAI missed user and revenue targets. The selloff followed news SoftBank had executed the first $10 billion of a planned $30 billion investment in OpenAI. The company also announced new board, dividend, and shareholder-meeting proposals as its stock came under pressure.