SoftBank shares slide over 8% amid renewed pressure on AI-linked stocks
Shares of Japan's SoftBank Group fell over 8% amid a broader decline in AI-related stocks, as investors expressed concerns over high valuations in the sector. This decline follows a previous gain of nearly 3% after a significant drop of 10% on Wednesday, marking the company's worst day since April. Other Japanese tech stocks, including Advantest and Renesas Electronics, also experienced declines.
The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025.
Issei Kato | Reuters
Shares of Japan's SoftBank Group resumed their slide on Friday, following a broader slump in AI-related stocks as investors once again grew wary of the sector's lofty valuations.
The conglomerate, which holds a wide range of AI investments across infrastructure, semiconductor, and application companies, dropped over 8%.
This comes after the group's shares gained nearly 3% in the previous session after plunging 10% on Wednesday and clocking their worst day since April.
Other Japanese tech stocks also declined. Semiconductor testing equipment maker Advantest fell over 6%, chipmaker Renesas Electronics fell nearly 4%, Tokyo Electron, a chip production equipment maker, fell 1.46%.
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