SoftBank shares drop 11% as tech sell‑off spreads — SkimNews
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- SoftBank shares dropped 11.3% to 7,377 yen, marking an 11% plunge after a US market sell‑off.
- SoftBank overtook Toyota Motor to become Japan's most valuable company, despite concerns over its high‑risk AI investments.
- SoftBank CEO Masayoshi Son said the AI revolution will be 50 times larger than the dot‑com boom, underscoring the group's AI focus.
- SoftBank sold a 3.25% stake in Lenskart, offloading 56.5 million shares at 508.55 INR each (~28.73 billion INR).
Why it matters: SoftBank investors lose roughly 11% of market value as shares tumble, while the 28.7 billion INR Lenskart stake sale provides cash to offset the decline and fund its high‑risk AI bets.
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