SoftBank (9984) Plunges 12% Amid U.S. Tech Selloff and AI Costs

AI Summary

SoftBank Group (9984) fell over 12% on Friday, leading a decline in Asian tech stocks, following the Nasdaq Composite's 0.46% drop. Concerns relate to rising costs of artificial intelligence infrastructure and a 6% decline in Apple (AAPL) shares, overshadowing Micron's stronger earnings report. Additionally, SoftBank's chip designer Arm Holdings declined by 3.2%, indicating competitive pressures in the semiconductor sector. This downturn reflects broader concerns that high semiconductor prices could impact technology companies' profit margins.