SoftBank Shares Plunge 12% as AI Infrastructure Costs and OpenAI IPO Delay Spark Asian Tech Selloff
SoftBank Group shares fell more than 12% on Friday, leading a broad selloff across Asian technology stocks as investors weighed rising artificial intelligence infrastructure costs and concerns that OpenAI may delay its initial public offering until next year. The sharp decline for the Japanese venture-capital firm extended from early trading losses, where the stock first slid 10%. The drop underscored mounting pressure on mega-cap tech valuations after OpenAI's potential deferral pushes back the timeline for financial returns to its largest backer.
The sell-off extended a global retreat in AI and semiconductor equities that began on Wall Street earlier this week. The Nasdaq Composite and S&P 500 closed at more than one-week lows as investors scrutinized the sustainability of debt-funded AI spending and braced for a potentially hawkish US Federal Reserve. Higher Treasury yields added to the selling pressure, while regional indices including South Korea's KOSPI and US futures had already shown weakness following Tuesday's tech rout.
From the sources (25 posts)
@firstsquawkThe KOSPI in Seoul dropped 4.5% during the session.
@bulltheoryioOver ₩335,800,000,000,000 ($243 BILLION) wiped out from South Korea's stock market as the KOSPI crashed -4.6%, falling below 8,700.
@firstsquawkKorea Exchange imposed a sidecar on the KOSPI following a 5% decline in KOSPI 200 futures, pausing program trading for five minutes.
@marketnews_feedKOREA EXCHANGE IMPOSED A SIDECAR ON THE KOSPI FOLLOWING A 5% DECLINE IN KOSPI 200 FUTURES, PAUSING PROGRAM TRADING FOR FIVE MINUTES. ...
@zerohedgeAnd Korea halts program selling right on cue *KOREA EXCHANGE ACTIVATES SIDECAR TO HALT KOSPI PROGRAM SELLING
@macroedgeresKorea Exchange triggered a KOSPI circuit breaker after KOSPI 200 futures plunged 5% on AI stock weakness; program trading halted for 5 minutes #MacroEdge
@firstsquawkKOSPI dropped over 6% on the Seoul stock exchange.
@bulltheoryioBREAKING: Korea Exchange briefly halted program selling as KOSPI crashed -6.5%. Samsung and SK Hynix, which together make up 50% of the index, fell -5.7% and -6.8%.
@businessUS stock futures fell Tuesday as a selloff in megacap technology shares spilled over into Asian AI-related stocks
@businessEuropean stocks fell sharply at the open on Tuesday as a global retreat in technology firms weighed on indexes
@ftBig Tech leads sell-off in global stocks
@firstsquawkBig Tech leads sell-off in global stocks
@deitaoneTECH SELLOFF DRAGS US STOCK FUTURES LOWER US equity futures fell sharply Tuesday as investors questioned the outlook for AI spending and returns. Nasdaq 100 futures dropped 2.5%, S&P 500 futures fell 1.3%, and Dow futures slipped 0.6%. A
@businessTech losses are stacking up around the world as the AI rally slams into reverse.
@cointelegraph🚨 ALERT: U.S. stocks erased $1.2 trillion in market value at the open as the U.S. Dollar Index (DXY) climbed to its highest level in 13 months.
@coinmarketcapLATEST: 📊 Bitcoin fell below $63,000 today as a selloff in tech and chip stocks dragged down global markets.
@cointelegraph🚨 ALERT: The U.S. stock market wiped out over $1 trillion in market value today.
@cointelegraph🚨 UPDATE: Nvidia’s market cap has fallen below $5 trillion after shares dropped more than 4% today.
@reutersThe Nasdaq and the S&P 500 closed at more than one-week lows on Tuesday, dragged down by sharp losses in semiconductor stocks as investors scrutinized growing debt-funded AI spending and braced for a more hawkish US Federal Reserve http
@wsjA selloff in global tech stocks intensified, leaving investors worried about higher interest rates and stretched valuations
@reutersbizWATCH: The Nasdaq and the S&P 500 closed at more than one-week lows on Tuesday, dragged down by sharp losses in semiconductor stocks as investors scrutinized growing debt-funded AI spending and braced for a more hawkish US Federal Reser
@reutersWall Street ends lower on semiconductor selloff as AI spending concerns mount
@businessUS technology stocks were set to rebound on Wednesday after concerns around AI valuations led to a rout
@firstsquawkNASDAQ UP 234.68 POINTS, OR 0.92 PERCENT, AT 25,711.32 AFTER MARKET OPEN S&P 500 UP 57.40 POINTS, OR 0.78 %, AT 7,415.62 AFTER MARKET OPEN DOW JONES UP 327.07 POINTS, OR 0.63 PERCENT, AT 52,175.97 AFTER MARKET OPEN
@deitaoneNASDAQ TURNS NEGATIVE, LAST DOWN 0.73%