SoftBank Shares Fall 12% on OpenAI IPO Delay to 2027

TM•

2026-06-26

SoftBank Group shares plunged 12% on Friday after reports that OpenAI may postpone its IPO to 2027, capping investor expectations. The company’s total commitment to OpenAI is projected to reach $65 billion by October, while a stalled $6 billion margin loan and a $40 billion bridge loan raise valuation concerns.

1. Stock Plunge on IPO Delay

SoftBank shares closed down 12% on Friday after news that OpenAI may push its IPO into 2027, marking the largest intraday drop in three months as investor expectations for a major payout were dampened.

2. OpenAI Stake and Financing Challenges

SoftBank’s OpenAI commitment is set to reach $65 billion by October, supported by a $40 billion bridge loan due March 2027; an effort to secure at least $6 billion in margin financing stalled amid valuation uncertainty for the private stake.

3. Portfolio Valuation and Conglomerate Discount

A public listing of OpenAI was expected to establish a transparent market value for SoftBank’s largest position, potentially reducing its conglomerate discount, with Vision Fund’s OpenAI stake valued at $79.6 billion against a $34.6 billion cost at year-end.