SoftBank shares plunge 8.3% as global tech stocks slide on Wall Street losses and AI valuation concerns

Summary

Global semiconductor and technology stocks resumed their decline on Wednesday, tracking Wall Street losses after a brief rebound lost momentum. SoftBank Group plunged 8.3% amid broader tech declines and after its efforts to secure a $6 billion margin loan backed by its OpenAI stake hit a snag, though the company is exploring alternative funding options. Japanese chip equipment stocks also fell sharply, with Tokyo Electron dropping 4.5% and Advantest falling 3.8%, while South Korea's SK Hynix declined 3.5% and Taiwan's Hon Hai Precision Industry fell 2.5%.

Source

bskySoftBank shares plunge 8.3% as global tech stocks slide on Wall Street losses and AI valuation concernscnbc.com