SoftBank shares slide as OpenAI revenue report dents AI optimism

What happened: SoftBank Group (TYO:9984) shares fell as much as 7.3% after a Financial Times report said OpenAI's annualized revenue was about $50 billion, below the previously reported $70 billion figure. Key numbers: SoftBank closed 3.9% lower at 5,803.0 yen. Why it matters: A later Bloomberg report said OpenAI revenue was about $50 billion at end of September and could reach $70 billion or more by December, easing some concerns. SoftBank is heavily exposed to OpenAI as Masayoshi Son positions the conglomerate in AI. Coverage: 3 outlets in 24h

SoftBank Group (TYO:9984) shares fell as much as 7.3% after a Financial Times report said OpenAI's annualized revenue was about $50 billion, below the previously reported $70 billion figure.

A later Bloomberg report said OpenAI revenue was about $50 billion at end of September and could reach $70 billion or more by December, easing some concerns. SoftBank is heavily exposed to OpenAI as Masayoshi Son positions the conglomerate in AI.