SoftBank Plunges 11% as AI Infrastructure Cost Fears Hit Asian Tech
Updated
Updated · CNBC · Jun 26
SoftBank Plunges 11% as AI Infrastructure Cost Fears Hit Asian Tech
3 articles · Updated · CNBC · Jun 26
Summary
SoftBank sank more than 11% on Friday, leading a regional tech selloff after the Nasdaq fell for a fourth straight session and Arm dropped 3.2% overnight.
Rising AI infrastructure and semiconductor costs drove the retreat, with Apple's 6% slide after MacBook and iPad price hikes sharpening fears that chip inflation will squeeze big-tech margins.
The weakness spread across Asian chip names: SK Hynix fell more than 3%, Samsung nearly 3%, SK Square about 7%, Advantest over 6% and Tokyo Electron more than 2%.
SoftBank also faces stock-specific pressure as reports said OpenAI may delay an IPO until next year while struggling to attract demand at a $1 trillion valuation, potentially capping enthusiasm for its AI exposure.