Affected by the potential delay of the OpenAI IPO, SoftBank's stock price plunged.

BlockBeats News, June 26th, due to market concerns that OpenAI may postpone its IPO until next year, delaying the investment return for its Japanese backers, SoftBank Group's stock price plummeted by 12% intraday. As of October, SoftBank's investment in OpenAI, the developer of ChatGPT, is expected to reach around $65 billion.

Previously, the market expected that OpenAI's IPO would bring substantial returns, driving SoftBank's stock price to a historic high and surpassing Toyota Motor Corporation in market value last month. However, according to The New York Times, advisors to OpenAI warned that the volatility of tech stocks could dampen the market's enthusiasm for the IPO. As a result, SoftBank's stock price saw its largest single-day drop in over three months in early trading in Tokyo on Friday.

Hiroki Takei, a strategist at Risona Holdings, stated that OpenAI's IPO would provide a transparent market valuation for the vast assets held by SoftBank, which also includes hundreds of unicorn startups. If OpenAI goes public, investors will find it easier to assess SoftBank's overall investment portfolio, potentially reducing the significant conglomerate discount or risk premium currently applied to SoftBank's stock. "Naturally, the news of the IPO delay will diminish these expectations," he said.

---------------------------------
Click the link below to join the BlockBeats · Feishu AI News Channel for real-time monitoring of global AI trends and news 24/7.