SoftBank Group shares fell sharply on Friday, tracking a selloff in artificial intelligence-related stocks after a Financial Times report said OpenAI's annualized revenue was significantly below figures previously indicated to investors. Tokyo-listed SoftBank shares fell as much as 7.3% to 5,600.0 yen, and were last down 4% at 5,810.0 yen. The report said OpenAI's annualized revenue was about $50 billion at the end of September, roughly $20 billion below the $70 billion figure previously reported, a discrepancy reflecting differences in how OpenAI and rival Anthropic account for revenue generated through cloud partners. SoftBank is particularly exposed to OpenAI, having completed a further $10 billion investment on Oct. 1 that brought its cumulative investment to $64.6 billion and its ownership interest to about 13%. The report also hit U.S. technology stocks on Thursday, with the Nasdaq Composite falling 1.3% and the Philadelphia semiconductor index dropping 3.4%.
SoftBank Group Corp.SoftBank shares fell 7.3% as the OpenAI revenue shortfall dents the value of its $64.6 billion OpenAI stake.
NVIDIA CorporationFT report says OpenAI's annualized revenue was ~$50B, about $20B below the $70B previously indicated to investors.
