SoftBank shares tumble after OpenAI IPO delay
SoftBank Group shares fell over 11% to 5,795.0 yen following Sam Altman's confirmation that OpenAI will not go public in 2026, undermining expectations of a quick exit for SoftBank's stake. The investor has pledged about $65 billion to OpenAI and has raised roughly $37 billion this year; it also secured an $11.87 billion two-year facility from about 20 banks. SoftBank must repay $25.9 billion of a $40 billion credit line by Sept 15 and is weighing additional dollar bonds and a $10 billion margin facility, heightening market concern about financing and tech valuations.
SoftBank faces funding pressure after OpenAI IPO delay
Context
SoftBank has invested heavily in OpenAI. Sam Altman said OpenAI will not list in 2026. SoftBank faces a large loan repayment on Sept 15 and has arranged new financing.
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