Asian shares are mixed and OpenAI investor SoftBank shares plunge after calls to slow AI industry
The Japanese conglomerate secured $11.87 billion in financing from about 20 banks as investors weighed higher credit risk in artificial intelligence.
- SoftBank Group secured an $11.87 billion loan to support its investment in OpenAI, exceeding its original $10 billion target, according to people familiar with the matter.
- The Japanese conglomerate is slated to invest close to $65 billion in OpenAI by October, while simultaneously repaying a $40 billion loan it obtained earlier this year.
- Shares of SoftBank plummeted 11.2% on Monday after OpenAI Chief Executive Officer Sam Altman and Anthropic CEO Dario Amodei called for slower AI development to ensure safety.
- In a Fortune interview published Saturday, Altman confirmed OpenAI will not proceed with an initial public offering this year, citing safety-related concerns as the primary reason.
- SoftBank faces investor concerns regarding growing credit risks in the artificial intelligence sector while considering a bond sale of up to $20 billion, Morningstar researcher Dan Baker said.
32 Articles
32 Articles
Asian shares are mixed and OpenAI investor SoftBank shares plunge afte
HONG KONG (AP) — Asian shares were mixed Monday, as shares of Japanese investment conglomerate SoftBank Group, a key investor in OpenAI, fell more than 10% following calls from Anthropic and OpenAI to slow AI development for
The Toronto Star
Asian shares are mixed and OpenAI investor SoftBank shares plunge after calls to slow AI industry
HONG KONG (AP) — Asian shares were mixed Monday, as shares of Japanese investment conglomerate SoftBank Group, a key investor in OpenAI, fell more than 10% following calls from Anthropic and OpenAI to slow AI development for safety.
SoftBank shares plunge 13%: Why AI safety fears are now hurting the tech giant
SoftBank shares fell more than 13% after AI leaders urged greater caution on frontier models and OpenAI ruled out a 2026 IPO. The reaction sharpened investor concern that a slower pace of AI development could delay returns on Masayoshi Son's debt-backed bets.
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