SoftBank Stock Slides 59% as AI Selloff Raises Credit Concerns
Photo: The Coin Republic
Key Insights SoftBank stock fell 10.83% to ¥3,549 on Nov. 6. Five-year debt insurance spreads hit 466 basis points, highest since 2022. SB Energy reported $439 billion in backlog, not recognized revenue. SoftBank stock plunged 10.83% in Tokyo on Nov. 6, closing at ¥3,549 as worries about artificial intelligence financing deepened. The Japanese investment group’s five-year credit default swap spread reached 466 basis points, its highest since October 2022. Investors weighed rising borrowing costs against its $64.6 billion investment in OpenAI and exposure to chip designer Arm. The latest decline extended a selloff across artificial intelligence equities after the U.S.
Source: The Coin Republic
