SoftBank Stock (SFTBY) Dips as OpenAI Joint Venture Faces Delays

SoftBank Group Corp. shares slid in pre-market trading following reports of significant delays in its AI joint venture with OpenAI. The partnership, initially slated for launch this summer, now faces prolonged preparations with no clear resolution timeline.

Masayoshi Son's ambitious SB OpenAI Japan venture, announced in February with Sam Altman, remains in limbo. SoftBank's telecom CEO Junichi Miyakawa had targeted end-July for establishment, but operational details and product offerings are still under discussion.

The delay comes as SoftBank aggressively positions itself in the AI race, seeking competitive advantage through strategic partnerships. Market reaction suggests investor impatience with the stalled timeline, though neither party has disclosed specific hurdles causing the setback.