SoftBank Shares Lose Steam as Investors Question OpenAI Bet

SoftBank Group shares have lost momentum as investors grow concerned about Masayoshi Son's big bet on OpenAI, according to Nikkei Asia. Once seen as at the forefront of the AI boom due to its major investment in ChatGPT developer OpenAI, SoftBank now faces investor skepticism. The shares have fallen nearly 40% from their peak in October. Analysts note that SoftBank shareholders' fortunes are now closely tied to OpenAI, creating concentration risk. The concern follows broader market nervousness about AI infrastructure spending and the viability of massive investments in AI companies, including Softbank's reported $30 billion commitment to OpenAI.