Why it matters
- SoftBank is one of the largest stocks in Japan's Nikkei 225, so its moves affect the whole index.
- The size of the bet makes SoftBank a proxy for investor sentiment about AI.
Shares of SoftBank Group fell nearly 6% in Tokyo on Friday after the company completed the final $10 billion tranche of its investment in OpenAI, bringing its total investment to $64.6 billion, Trading Economics reported.
The drop contributed to a 0.94% decline in the Nikkei 225, which closed at 68,309 and ended a two-day winning streak, according to Trading Economics. Japanese chip and technology stocks had rallied on Thursday after Micron Technology's strong results.
Sources
- Trading Economics, Japan stock market
