SoftBank Group Corp.’s shares dropped over 13% in Tokyo, marking their steepest intraday decline since late June, after Anthropic PBC and OpenAI leaders urged a slowdown in AI development to prioritize safety. The warning amplified investor concerns about SoftBank’s aggressive AI bets, including a nearly $65 billion commitment to OpenAI, as credit default swaps surged to near three‑year highs. Founder Masayoshi Son’s unwavering confidence in AI continues to expose the firm to volatility, especially as OpenAI signals it will not go public in 2026 and its IPO may be delayed.

SoftBank’s financing strategy—highlighted by an $11.87 billion loan, a ¥1 trillion retail bond, a $10 billion loan tied to OpenAI shares, and potential $20 billion bond sales—faces scrutiny amid heightened competition, security breaches, and doubts about AI valuations. While Anthropic chief Dario Amodei assured that slower frontier development won’t curb spending, market strategist Yugo Tsuboi warned of uncertainty over AI’s growth pace. SoftBank posted a June‑quarter profit, buoyed by stakes in Intel and ByteDance, and is accelerating repayment of a $40 billion debt facility, reducing its $25.9 billion short‑term balance ahead of a March maturity.