SoftBank Group shares fall 9.9% after OpenAI misses internal targets
Updated
Updated · MarketWatch · Apr 28
SoftBank Group shares fall 9.9% after OpenAI misses internal targets
11 articles · Updated · MarketWatch · Apr 28
SoftBank stock closed 9.9% lower in Tokyo, its worst day since November, following reports that OpenAI missed goals for active users and revenue.
The Wall Street Journal said OpenAI lost market share to Google’s Gemini and Anthropic, intensifying competition in the AI sector and raising concerns for SoftBank’s 11% OpenAI stake.
Microsoft, OpenAI’s largest shareholder, recently scaled back a partnership as a lawsuit unfolds, while SoftBank reportedly seeks a $10 billion loan secured by its OpenAI stake.
With its valuation sinking and cash burn soaring, why is SoftBank doubling down on OpenAI?
Anthropic's value now tops OpenAI's. Is the AI market leader about to be dethroned?
OpenAI's $500B AI supercomputer project has stalled. Can its AI ambitions survive reality?
Amidst wrongful death lawsuits, can OpenAI prove its AI is actually safe for public use?
Elon Musk's trial seeks to dismantle OpenAI. Could he succeed in reversing its for-profit turn?