SoftBank Shares Plunge 13% as OpenAI Delays IPO and AI Sector Raises Red Flags
Deep News
8 hours ago
SoftBank Group shares tumbled as much as 13% during intraday trading, marking the steepest decline since July 17, after OpenAI CEO Sam Altman revealed in an interview that the company has no plans to go public this year. The sharp selloff comes as SoftBank prepares to inject nearly $65 billion into OpenAI by October.
Adding to investor anxiety, leaders from several of the world's leading artificial intelligence platforms have recently voiced concerns about accelerating risks in the sector. They are now advocating for a slowdown in the development of the most advanced—and most profitable—AI models, a stance that has further unsettled market sentiment amid growing uncertainty over the industry's trajectory.
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