SoftBank Group shares fell as much as 12% intraday after reports OpenAI may postpone its IPO until next year, potentially delaying returns for Japanese investors. SoftBank’s exposure to OpenAI was expected to reach about $65bn by October. Markets had treated an OpenAI listing as a major valuation catalyst that helped push SoftBank to record highs and lift its market value above Toyota last month. The New York Times reported OpenAI’s adviser bankers warned tech-sector volatility could damp IPO de

SoftBank Group shares fell as much as 12% intraday after reports OpenAI may postpone its IPO until next year, potentially delaying returns for Japanese investors. SoftBank’s exposure to OpenAI was expected to reach about $65bn by October. Markets had treated an OpenAI listing as a major valuation catalyst that helped push SoftBank to record highs and lift its market value above Toyota last month. The New York Times reported OpenAI’s adviser bankers warned tech-sector volatility could damp IPO demand. The move produced SoftBank’s biggest single-day drop in Tokyo in over three months on Friday morning. Strategist Hiroki Takei said an OpenAI IPO would provide a transparent market valuation for SoftBank’s large holdings, including hundreds of unlisted startups, which could narrow the group’s conglomerate discount; a delay would lower those expectations.