Economic TimesLean R·
Japan's Nikkei ends 4% lower as SoftBank tanks on OpenAI IPO delay report
Japan's Nikkei index experienced a significant drop of 4% on Friday, largely due to a sharp decline in tech investor SoftBank Group, which plunged over 12% following reports of a potential delay in OpenAI's IPO. This downturn erased previous gains, impacting other AI-related stocks. Despite the volatility, strategists anticipate a continued rally in AI and chip sectors, citing strong long-term earnings potential and an industry-wide revolution.
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