SoftBank shares slide over 8% amid renewed pressure on AI-linked stocks
SoftBank’s logo is displayed at a company store in Tokyo, Japan, on January 28, 2025.
Issei Kato | Reuters
shares of japan SoftBank Group It continued its decline on Friday, following a broader decline in AI-related stocks as investors once again became wary of the sector’s lofty valuations.
The share of the conglomerate, which has a wide range of artificial intelligence investments in infrastructure, semiconductor and application companies, fell more than 8%.
This comes after the group’s shares rose nearly 3% in the previous session after falling 10% on Wednesday, their worst day since April.
Other Japanese technology stocks also fell. Semiconductor test equipment maker Advantest lost more than 6%, chipmaker Renesas Electronics lost nearly 4%, and chipmaking equipment maker Tokyo Electron lost 1.46%.
South Korean memory chip giant SK Hynix lost 0.51%.
The declines came after US AI-related stocks fell overnight
Qualcomm fell almost 4% despite strong quarterly results after warning it could lose future Apple business. AMD, which had a strong performance on Wednesday, lost 7% in value, while Palantir and Oracle fell about 7% and 3%, respectively. Nvidia and Meta Platforms, another of the “Magnificent Seven,” also finished lower.
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