SoftBank Shares Drop 12.5% as Stargate AI Project Setback Raises Investor Concerns
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SoftBank Group (SOBKY) shares fell 12.5% following setbacks in its Stargate AI project, reaching their lowest since August 2025. The company's credit default swaps widened to 380 basis points amid concerns over its expanding AI commitments, including a planned $30 billion investment in OpenAI. The drop in stock price was exacerbated by Oracle and OpenAI's decision to abandon plans for a Texas AI data center, raising questions about SoftBank's financial flexibility and asset liquidity.
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