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Finance
SoftBank shares tumble more than 12 percent on Apple shock; Samsung, SK Hynix slide
SoftBank Group shares fell more than 12 percent on June 26, leading declines in Asian technology stocks as concerns grew that higher Apple component costs could squeeze profitability through rising AI infrastructure expenses. Weakness in Arm Holdings added to the drop. In Asia, SK Hynix and Samsung Electronics slid nearly 5 percent. In Japan, Advantest fell more than 6 percent and Tokyo Electron dropped over 2 percent.
AI & Enterprise
SoftBank surges 16.5% as AI rally spreads to Japan stocks
SoftBank Group shares surged 16.5% on Wednesday as buying swept across Japanese technology stocks, pushing the Nikkei 225 to a record high. Japan’s market, reopening after holidays, moved higher in semiconductor and AI-linked names. Advantest gained about 7.8%, Tokyo Electron rose 9.2% and Renesas Electronics jumped 13.8%. The move followed a U.S. AI-led rally, with the Nasdaq at a record and AMD, Arm and Super Micro Computer sharply higher.
AI & Enterprise
OpenAI report on missing user and revenue targets sends Nvidia down 3 percent, AMD down 11 percent
Tech stocks fell after a report said OpenAI failed to meet last year’s user base and revenue targets. Nvidia shares dropped more than 3 percent and AMD fell 11 percent, while partners such as Arm Holdings and Oracle also declined. The Wall Street Journal reported that ChatGPT growth slowed from late last year and missed a target of 1 billion weekly active users. It also reported revenue goals were missed repeatedly.
