SoftBank Stock Falls 11% After OpenAI Rules Out 2026 IPO
TLDR
- SoftBank stock fell over 11% on Monday to 5,795.0 yen, one of the worst performers on the Nikkei 225
- OpenAI CEO Sam Altman confirmed the company will not pursue a public listing in 2026
- Anthropic CEO Dario Amodei called for a slower pace of AI development, citing risks to humanity
- SoftBank secured a new $11.87B two-year loan from roughly 20 banks to support its OpenAI investment
- SoftBank plans to invest nearly $65B in OpenAI by October and has already raised about $37B this year
SoftBank Group (TYO: 9984) stock dropped over 11% on Monday to 5,795.0 yen, making it one of the biggest losers on the Nikkei 225, which fell 2% on the day.
The sell-off was triggered by OpenAI CEO Sam Altman, who said in a magazine interview that the company will not pursue an IPO in 2026. That news hit SoftBank hard, given how deeply tied the Japanese investment giant is to OpenAIโs future.
A public listing would have delivered SoftBank a fast and sizeable return on its investment in the AI startup. OpenAI had commanded lofty valuations during fundraising rounds earlier this year, making the IPO prospect an attractive one for investors.
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