TLDR
- SoftBank stock fell over 11% on Monday to 5,795.0 yen, one of the worst performers on the Nikkei 225
- OpenAI CEO Sam Altman confirmed the company will not pursue a public listing in 2026
- Anthropic CEO Dario Amodei called for a slower pace of AI development, citing risks to humanity
- SoftBank secured a new $11.87B two-year loan from roughly 20 banks to support its OpenAI investment
- SoftBank plans to invest nearly $65B in OpenAI by October and has already raised about $37B this year
SoftBank Group (TYO: 9984) stock dropped over 11% on Monday to 5,795.0 yen, making it one of the biggest losers on the Nikkei 225, which fell 2% on the day.
The sell-off was triggered by OpenAI CEO Sam Altman, who said in a magazine interview that the company will not pursue an IPO in 2026. That news hit SoftBank hard, given how deeply tied the Japanese investment giant is to OpenAI’s future.
A public listing would have delivered SoftBank a fast and sizeable return on its investment in the AI startup. OpenAI had commanded lofty valuations during fundraising rounds earlier this year, making the IPO prospect an attractive one for investors.
SoftBank, led by billionaire Masayoshi Son, has committed nearly $65B to OpenAI and has already raised around $37B in 2026 to fund that position.
Heavy Debt Load Raises Pressure
To finance this bet, SoftBank has taken on large amounts of debt, including bridge loans backed by its other holdings.
Last week, the company said it would repay $25.9B of the outstanding balance on a $40B loan it took out earlier this year to fund its OpenAI investment. That repayment is due September 15.
Now, a fresh $11.87B two-year loan has been finalized, drawn from commitments by around 20 banks. That figure topped SoftBank’s earlier $10B target, according to Bloomberg.
SoftBank is also considering a U.S. dollar bond sale of as much as $20B, alongside a separate $10B margin loan backed by its OpenAI stake.
AI Safety Concerns Add to the Pressure
The IPO delay wasn’t the only issue rattling markets. Anthropic CEO Dario Amodei publicly called for a slowdown in AI development, pointing to potential risks from the technology’s rapid pace of growth.
Several high-profile names backed his message, including SpaceX CEO Elon Musk and Google DeepMind head Demis Hassabis. OpenAI also voiced support for Amodei’s position.
For SoftBank, slower AI development is a problem on more than one front. Its chip design subsidiary Arm has benefited heavily from AI-driven demand for semiconductors. Any reversal there could weigh on Arm’s valuation, which is considered one of the crown jewels in SoftBank’s portfolio.
A broader cooling in AI momentum would also put pressure on SoftBank’s wider tech holdings.
Despite Monday’s sharp drop, SoftBank stock is still up nearly 26% in 2026.
SoftBank said last week it plans to have invested nearly $65B in OpenAI by October, with the next major financing milestone tied to the September 15 loan repayment deadline.
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