SoftBank Group sinks 11% in Tokyo after OpenAI says no IPO this year

SoftBank Group shares plunge 11% in Tokyo trading today after OpenAI said it will not pursue an IPO this year, Nikkei Asia reports. The drop highlights how tightly SoftBank’s valuation is tethered to sentiment around AI leaders and the timing of liquidity events. SoftBank, which holds a controlling stake in Arm and runs the Vision Fund, has been positioning itself as a central player in AI dealmaking.

With founder Masayoshi Son pushing an expansive AI strategy, a longer runway before any OpenAI listing could slow exit prospects for late-stage bets and temper fundraising momentum. Nikkei Asia said the selloff deepened as traders digested the signal from one of the sector’s most watched startups. Watch for any SoftBank guidance on capital allocation or buybacks, and whether AI-linked peers in Tokyo and New York echo the move. [Developing. This article will be updated.]