SoftBank shares fall 11.3% as global tech stocks slide
SoftBank's shares dropped 11.3% on Thursday, their sharpest fall in months, as tech stocks worldwide took a hit after Wall Street losses.
Big names like NVIDIA and Amazon also slipped, and Asian giants including TSMC and Samsung felt the pressure too.
SoftBank shares soared 70% this year
Earlier this year, SoftBank's stock soared 70%, driven by excitement over AI, even making it Japan's most valuable company ahead of Toyota.
But lately, concerns about high prices and SoftBank's bold bets on AI have cooled things off.
CEO Masayoshi Son still believes in AI's huge potential, calling it transformative as electrification.
SoftBank sold Lenskart stake for ₹2,873cr
Just this week, SoftBank sold a stake in Lenskart for ₹2,873 crore through its affiliate SVF II Lightbulb (Cayman).
The company's shares were last trading at 7,377 yen on Thursday, June 4.