OpenAI's IPO delay to 2027 at a $1 trillion valuation: Why SoftBank stock crashed 12% in a single day
SoftBank Group shares plunged 12% on June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its IPO until 2027 at a $1 trillion valuation — a move that directly threatens SoftBank’s ab... The delay reflects CEO Sam Altman's refusal to go public below a $1 trillion target, with SpaceX...
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SoftBank Group shares plunged 12% on June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its IPO until 2027 at a $1 trillion valuation — a move that directly threatens SoftBank’s ab...
The delay reflects CEO Sam Altman's refusal to go public below a $1 trillion target, with SpaceX's rocky post IPO performance serving as a cautionary tale for rushing to market.
The news compounded a steep selloff that had already erased more than a fifth of SoftBank's value in the prior week, driven by loan raising difficulties, S&P's negative outlook, and a global AI rout.
Search & fact-check with cited sources for Why did SoftBank's stock fall in Tokyo trading on Thursday, and how does OpenAI's potential decisSoftBank Group shares fell 12% on June 25, 2026, after reports that OpenAI may delay its IPO to 2027 at a $1 trillion valuation.
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Create a landscape editorial hero image for this Studio Global article: Search & fact-check with cited sources for Why did SoftBank's stock fall in Tokyo trading on Thursday, and how does OpenAI's potential decis. Article summary: Here is the fact-checked breakdown across all the elements you asked about.. Topic tags: general, news, general web, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts with fake numbers, clickbait thumbnails, icons, and tiny thumbnail layouts. Make it useful as an illustrative visual, not as factual evidence.
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SoftBank Group shares tumbled approximately 12% in Tokyo trading on Thursday, June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its initial public offering (IPO) until 2027, targeting a $1 trillion valuation . The selloff continued into Friday, June 26, with SoftBank plunging more than 12% again as the broader Asian tech rout deepened on AI infrastructure cost concerns and a fourth straight Nasdaq decline .
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What is the short answer to "OpenAI's IPO delay to 2027 at a $1 trillion valuation: Why SoftBank stock crashed 12% in a single day"?
SoftBank Group shares plunged 12% on June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its IPO until 2027 at a $1 trillion valuation — a move that directly threatens SoftBank’s ab...
What are the key points to validate first?
SoftBank Group shares plunged 12% on June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its IPO until 2027 at a $1 trillion valuation — a move that directly threatens SoftBank’s ab... The delay reflects CEO Sam Altman's refusal to go public below a $1 trillion target, with SpaceX's rocky post IPO performance serving as a cautionary tale for rushing to market.
What should I do next in practice?
The news compounded a steep selloff that had already erased more than a fifth of SoftBank's value in the prior week, driven by loan raising difficulties, S&P's negative outlook, and a global AI rout.
OpenAI's IPO delay to 2027 at a $1 trillion valuation: Why SoftBank stock crashed 12% in a single day
SoftBank Group shares plunged 12% on June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its IPO until 2027 at a $1 trillion valuation — a move that directly threatens SoftBank’s ab... The delay reflects CEO Sam Altman's refusal to go public below a $1 trillion target, with SpaceX...
Published byEdited with DeepSeek-V4-FlashImages generated with GPT Image 1.5
SoftBank Group shares plunged 12% on June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its IPO until 2027 at a $1 trillion valuation — a move that directly threatens SoftBank’s ab...
The delay reflects CEO Sam Altman's refusal to go public below a $1 trillion target, with SpaceX's rocky post IPO performance serving as a cautionary tale for rushing to market.
The news compounded a steep selloff that had already erased more than a fifth of SoftBank's value in the prior week, driven by loan raising difficulties, S&P's negative outlook, and a global AI rout.
Search & fact-check with cited sources for Why did SoftBank's stock fall in Tokyo trading on Thursday, and how does OpenAI's potential decisSoftBank Group shares fell 12% on June 25, 2026, after reports that OpenAI may delay its IPO to 2027 at a $1 trillion valuation.
AI Prompt
Create a landscape editorial hero image for this Studio Global article: Search & fact-check with cited sources for Why did SoftBank's stock fall in Tokyo trading on Thursday, and how does OpenAI's potential decis. Article summary: Here is the fact-checked breakdown across all the elements you asked about.. Topic tags: general, news, general web, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts with fake numbers, clickbait thumbnails, icons, and tiny thumbnail layouts. Make it useful as an illustrative visual, not as factual evidence.
openai.com
SoftBank Group shares tumbled approximately 12% in Tokyo trading on Thursday, June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its initial public offering (IPO) until 2027, targeting a $1 trillion valuation . The selloff continued into Friday, June 26, with SoftBank plunging more than 12% again as the broader Asian tech rout deepened on AI infrastructure cost concerns and a fourth straight Nasdaq decline .
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What is the short answer to "OpenAI's IPO delay to 2027 at a $1 trillion valuation: Why SoftBank stock crashed 12% in a single day"?
SoftBank Group shares plunged 12% on June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its IPO until 2027 at a $1 trillion valuation — a move that directly threatens SoftBank’s ab...
What are the key points to validate first?
SoftBank Group shares plunged 12% on June 25, 2026, after The New York Times reported that OpenAI is leaning toward delaying its IPO until 2027 at a $1 trillion valuation — a move that directly threatens SoftBank’s ab... The delay reflects CEO Sam Altman's refusal to go public below a $1 trillion target, with SpaceX's rocky post IPO performance serving as a cautionary tale for rushing to market.
What should I do next in practice?
The news compounded a steep selloff that had already erased more than a fifth of SoftBank's value in the prior week, driven by loan raising difficulties, S&P's negative outlook, and a global AI rout.
This was not an isolated dip. SoftBank had already lost more than a fifth of its value in the preceding five trading sessions amid speculation about its difficulty raising a loan and stuttering AI momentum .
Why OpenAI is waiting: The $1 trillion valuation standoff
OpenAI has already confidentially filed for a U.S. IPO, but the company's leadership is divided on timing. According to people involved in the deliberations cited by The New York Times, CEO Sam Altman is insisting on a $1 trillion+ valuation and has rejected any lower target .
OpenAI's advisers presented the option of waiting until 2027 to allow more time to prepare financials and wait for more favorable market conditions . One explicitly cited factor is the rocky post-IPO performance by SpaceX, which made OpenAI's leadership more cautious about listing in a choppy environment . Broader investor skepticism around sky-high AI valuations also contributed .
The $65 billion exposure: SoftBank's OpenAI bet in numbers
SoftBank's total committed investment in OpenAI is approximately $65 billion by October 2026, according to Bloomberg . The breakdown:
SoftBank had already invested over $30 billion in OpenAI as of early 2026, and the company's Vision Fund posted a $46 billion annual gain largely driven by the rising value of its OpenAI stake .
In February 2026, SoftBank announced a $30 billion follow-on investment agreement with OpenAI, with a first tranche of $10 billion executed on April 1, 2026 .
Reports indicate SoftBank has now committed roughly $60 billion to OpenAI for a ~13% stake, making it the second-largest outside shareholder — but without a board seat or observer rights .
The IPO delay directly matters because:
SoftBank needs a public market exit or a major valuation event to monetize its OpenAI stake and recycle capital.
Delaying the IPO to 2027 pushes SoftBank's hoped-for liquidity event further into the future, locking up billions in an illiquid private holding.
On the news, SoftBank shares fell 12% as investors priced in longer wait times for returns .
S&P downgrades outlook: Credit stress escalates
On March 3, 2026, S&P Global Ratings lowered SoftBank's credit outlook from stable to negative, citing the additional $30 billion OpenAI investment . S&P said the plan "may hurt the Japanese company's liquidity and the credit quality of its assets" .
S&P affirmed a "BB+" long-term issuer credit rating but warned that asset liquidity and portfolio quality would deteriorate .
SoftBank's 5-year credit default swaps (CDS) surged to 355 basis points — an 11-month high and the widest among Japanese corporates — reflecting rising credit stress .
The IPO delay magnifies this credit pressure because it extends the timeline for SoftBank to generate cash returns from its largest single investment, potentially keeping leverage elevated for longer.
The stalled $6 billion margin loan
MarketWatch and Morningstar reported that speculation about SoftBank's difficulty in raising a loan was a major factor in SoftBank's sharp 20%-plus decline over five trading sessions in early June 2026 . CNBC additionally reported that SoftBank obtained a $40 billion bridge loan in March to support further OpenAI investments and general corporate needs, indicating the company is operating with substantial debt leverage . Market participants are clearly worried about SoftBank's ability to secure additional margin or collateralized financing given its concentrated OpenAI position.
Broader context: AI sector rout hits Tokyo
Multiple forces compounded SoftBank's decline:
Global AI sector rout: On June 4, SoftBank fell ~10-11% as part of a broad tech and AI selloff that started in the U.S. (Nasdaq weakness) and cascaded into Asia . By June 26, Asian tech stocks were plunging again on "mounting concerns over the rising cost of AI infrastructure" .
Nikkei 225 pressure: The broader Japanese index was dragged down by SoftBank, which had become the largest stock on the exchange by market cap until recently . Profit-taking after a rapid rally and the unwinding of AI enthusiasm both played roles .
SoftBank's own Arm Holdings exposure: SoftBank's listed chip subsidiary Arm Holdings dropped nearly 13% in a single session in early June, compounding parent-company pressure .
SpaceX post-IPO performance: A cautionary tale for OpenAI
One of the explicit reasons cited for OpenAI's more cautious IPO stance is post-SpaceX market choppiness. SpaceX completed its highly anticipated IPO in 2025, and its subsequent share performance has been described as "rocky" or disappointing relative to expectations, making AI unicorns more cautious about rushing to market in a volatile environment . This, combined with broader AI valuation skepticism, pushed OpenAI's advisers to recommend waiting until 2027.
Bottom line: SoftBank's $65 billion bet on OpenAI is now a high-stakes waiting game. With credit stress rising, liquidity under question, and a global AI rout underway, the delay pushes SoftBank's hoped-for windfall further into the future — and markets are already pricing that in.
news.futunn.comDowngrades SoftBank Group's long-term credit outlook to negative
This was not an isolated dip. SoftBank had already lost more than a fifth of its value in the preceding five trading sessions amid speculation about its difficulty raising a loan and stuttering AI momentum .
Why OpenAI is waiting: The $1 trillion valuation standoff
OpenAI has already confidentially filed for a U.S. IPO, but the company's leadership is divided on timing. According to people involved in the deliberations cited by The New York Times, CEO Sam Altman is insisting on a $1 trillion+ valuation and has rejected any lower target .
OpenAI's advisers presented the option of waiting until 2027 to allow more time to prepare financials and wait for more favorable market conditions . One explicitly cited factor is the rocky post-IPO performance by SpaceX, which made OpenAI's leadership more cautious about listing in a choppy environment . Broader investor skepticism around sky-high AI valuations also contributed .
The $65 billion exposure: SoftBank's OpenAI bet in numbers
SoftBank's total committed investment in OpenAI is approximately $65 billion by October 2026, according to Bloomberg . The breakdown:
SoftBank had already invested over $30 billion in OpenAI as of early 2026, and the company's Vision Fund posted a $46 billion annual gain largely driven by the rising value of its OpenAI stake .
In February 2026, SoftBank announced a $30 billion follow-on investment agreement with OpenAI, with a first tranche of $10 billion executed on April 1, 2026 .
Reports indicate SoftBank has now committed roughly $60 billion to OpenAI for a ~13% stake, making it the second-largest outside shareholder — but without a board seat or observer rights .
The IPO delay directly matters because:
SoftBank needs a public market exit or a major valuation event to monetize its OpenAI stake and recycle capital.
Delaying the IPO to 2027 pushes SoftBank's hoped-for liquidity event further into the future, locking up billions in an illiquid private holding.
On the news, SoftBank shares fell 12% as investors priced in longer wait times for returns .
S&P downgrades outlook: Credit stress escalates
On March 3, 2026, S&P Global Ratings lowered SoftBank's credit outlook from stable to negative, citing the additional $30 billion OpenAI investment . S&P said the plan "may hurt the Japanese company's liquidity and the credit quality of its assets" .
S&P affirmed a "BB+" long-term issuer credit rating but warned that asset liquidity and portfolio quality would deteriorate .
SoftBank's 5-year credit default swaps (CDS) surged to 355 basis points — an 11-month high and the widest among Japanese corporates — reflecting rising credit stress .
The IPO delay magnifies this credit pressure because it extends the timeline for SoftBank to generate cash returns from its largest single investment, potentially keeping leverage elevated for longer.
The stalled $6 billion margin loan
MarketWatch and Morningstar reported that speculation about SoftBank's difficulty in raising a loan was a major factor in SoftBank's sharp 20%-plus decline over five trading sessions in early June 2026 . CNBC additionally reported that SoftBank obtained a $40 billion bridge loan in March to support further OpenAI investments and general corporate needs, indicating the company is operating with substantial debt leverage . Market participants are clearly worried about SoftBank's ability to secure additional margin or collateralized financing given its concentrated OpenAI position.
Broader context: AI sector rout hits Tokyo
Multiple forces compounded SoftBank's decline:
Global AI sector rout: On June 4, SoftBank fell ~10-11% as part of a broad tech and AI selloff that started in the U.S. (Nasdaq weakness) and cascaded into Asia . By June 26, Asian tech stocks were plunging again on "mounting concerns over the rising cost of AI infrastructure" .
Nikkei 225 pressure: The broader Japanese index was dragged down by SoftBank, which had become the largest stock on the exchange by market cap until recently . Profit-taking after a rapid rally and the unwinding of AI enthusiasm both played roles .
SoftBank's own Arm Holdings exposure: SoftBank's listed chip subsidiary Arm Holdings dropped nearly 13% in a single session in early June, compounding parent-company pressure .
SpaceX post-IPO performance: A cautionary tale for OpenAI
One of the explicit reasons cited for OpenAI's more cautious IPO stance is post-SpaceX market choppiness. SpaceX completed its highly anticipated IPO in 2025, and its subsequent share performance has been described as "rocky" or disappointing relative to expectations, making AI unicorns more cautious about rushing to market in a volatile environment . This, combined with broader AI valuation skepticism, pushed OpenAI's advisers to recommend waiting until 2027.
Bottom line: SoftBank's $65 billion bet on OpenAI is now a high-stakes waiting game. With credit stress rising, liquidity under question, and a global AI rout underway, the delay pushes SoftBank's hoped-for windfall further into the future — and markets are already pricing that in.
news.futunn.comDowngrades SoftBank Group's long-term credit outlook to negative
