SoftBank Group shares plunged between 11% and 13% on June 26, 2026, amid investor concerns that OpenAI is delaying its initial public offering (IPO) until next year [1, 2, 3, 4, 5, 6]. The shares dropped sharply in Tokyo trading as broader selloffs hit tech stocks in Asia and the US, affecting semiconductor companies like Arm Holdings, Kioxia, SK Hynix, and Samsung [7, 5, 8, 9]. The Nikkei 225 index fell 3,005.46 points, or 4.15%, on the same day [8, 10].
OpenAI, led by CEO Sam Altman, filed IPO registration documents with the US Securities and Exchange Commission (SEC) in June 2026 aiming for a potential listing in fall 2026 [1, 4, 6]. The company has been working with investment banks Goldman Sachs and Morgan Stanley on the offering [1, 4, 6]. However, bankers advising OpenAI cautioned that recent tech market volatility could sap investor enthusiasm, increasing the likelihood of a postponement to 2027 [1, 4, 5, 6, 8].
SoftBank’s investment in OpenAI is projected to reach about US$65 billion by October 2026 [1, 4, 5, 6]. Hiroki Takei, strategist at Resona Holdings, said, "News of an IPO delay naturally dampens those expectations." He added that if OpenAI went public, it would allow investors to value SoftBank’s private startup portfolio better and might ease the conglomerate discount applied to SoftBank shares [1]. Andrew Jackson, equity strategist at Ortus Advisors, noted, "Investor enthusiasm for SoftBank may also be capped by reports that OpenAI could delay its initial public offering until next year as it struggles to secure demand at a $1 trillion valuation" [7].
The market turbulence also impacted key semiconductor firms. Japanese memory chip maker Kioxia shares declined 12% on June 26 [8, 9]. Kioxia’s CFO 河村芳彦 stated, "It is still unclear whether the listing would be in April, May, or June, but we hope it would be around that time" [9]. Meanwhile, Homin Lee, senior macro strategist at Lombard Odier Singapore Ltd, pointed out that rumors about OpenAI’s IPO delay may intensify market sentiment swings, since the company’s capital spending influences demand across Asia’s hardware tech ecosystem [8].
SoftBank’s immediate focus remains on reaching the expected $65 billion valuation of its OpenAI stake by October 2026, with the IPO timeline pending clarity on market conditions.
