AI concerns hit tech stocks, SoftBank records net loss for the first time in nearly two years.

BlockBeats news, November 10 - SoftBank reported its first net loss in nearly two years. Previously, market concerns about spending and demand in the AI sector weighed on the major holdings of this tech investment giant. SoftBank recorded a loss of ¥1.12 trillion ($7.1 billion) in its second fiscal quarter, a sharp reversal from a profit in the same period last year. Declines in the share prices of chipmakers Arm and Intel, as well as South Korean e-commerce giant Coupang, dragged down SoftBank's overall performance. The "Vision Fund" division, which manages equity stakes in hundreds of tech startups, recorded a loss of ¥81.6 billion.

SoftBank is increasingly seen as a "bellwether" for sentiment toward OpenAI and the broader AI sector. Since hitting an all-time high in June, SoftBank's stock price has plunged more than 50%. This stems both from market concerns about its borrowing to fund large-scale AI investments and from worries that a sweeping Democratic victory in the U.S. midterm elections could stall many of Masayoshi Son's projects. (Jinshi)