SoftBank’s $60 Billion OpenAI Stake Weighs Heavy as Shares Shed 16% in a Week
29.06.2026 - 18:54:41 | boerse-global.de
The dream of a quick exit from OpenAI has evaporated, and SoftBank’s stock is paying the price. Reports that the ChatGPT developer’s initial public offering has been pushed back to 2027 or later triggered a fresh wave of selling that erased nearly 5% in a single session. The delay compounds a brutal stretch for Japan’s most aggressive tech investor: over the past seven trading days the shares have tumbled more than 16%, with the monthly decline now exceeding 20%.
At the heart of the sell-off is the sheer size of SoftBank’s exposure. The conglomerate holds a stake in OpenAI worth $60 billion, making it the second-largest external shareholder. Any postponement of an IPO — which had been widely anticipated as a catalyst to unlock value — directly undermines the thesis underpinning Masayoshi Son’s Vision Fund. To make matters worse, OpenAI reported a net loss of $21.3 billion in the first quarter of 2026, even as its leadership clings to a $1 trillion valuation target. For investors, the message is clear: returns from one of the most celebrated venture bets are not coming anytime soon.
The broader market backdrop has only amplified the pain. The Philadelphia Semiconductor Index dropped 5% in a single session late last week, and Japan’s Nikkei 225 cratered by more than 800 points. Heavyweights such as Samsung, SK Hynix, Advantest and Tokyo Electron all came under pressure as fund managers rotated out of high-multiple technology names into defensive sectors. A strengthening yen and lingering concerns over semiconductor supply chains added to the headwinds, leaving SoftBank’s Tokyo listing with little shelter from the storm.
Should investors sell immediately? Or is it worth buying SoftBank?
Technical indicators offer scant comfort. The relative strength index sits at roughly 42, a level that normally signals oversold conditions, but no clear reversal sign has emerged. Analysts are eyeing the support zone between 4,800 and 5,000 yen; a break below that band could open the door to further losses. In the most recent session, the stock closed at 6,142 yen, representing a weekly drop of 12.9%.
Masayoshi Son is not waiting idly. He is pushing ahead with a plan to float the robotics start-up Roze in the second half of 2026, targeting a $100 billion valuation. That move underscores his conviction in artificial superintelligence, even as the market questions the timeline. Elsewhere in the portfolio, SoftBank signed a basic agreement in May 2026 with SMBC Group and Fujitsu to build a Japanese AI-powered healthcare platform capable of managing medical records for up to 60 million users and 4,000 institutions. In India, e-commerce player Meesho is preparing its own IPO, carrying a valuation of roughly $4.9 billion.
Macroeconomic pressures are compounding the uncertainty. Brent crude has climbed to around $72 a barrel, raising costs for a capital-intensive model like SoftBank’s. All eyes are now on the Bank of Japan’s Tankan survey, due in early July 2026, which will provide the latest read on business sentiment and hints about future rate moves. U.S. employment data due around the same time will also help determine whether the technology sector can find a floor.
For now, the immediate catalyst rests on Roze’s IPO progress and whether Son can communicate a credible path back to growth. Without a concrete timeline for OpenAI’s flotation, SoftBank’s stock is left to drift in a market that has suddenly turned skeptical of the very thesis that made it one of the most compelling trades of the decade.
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