SoftBank Group Stock News

Japan's SoftBank and Swiss engineering group ABB are looking ​at carving out the Chinese element of ‌a $5.4 billion robotics deal which was blocked earlier this week by Beijing, Bloomberg News reported on Saturday, citing ​people familiar with the matter.

Samsung Electronics, SK Hynix and SoftBank Group slumped on Friday as Wall Street's rout in artificial intelligence stocks spread across Asia, exposing concerns about the cost of financing the industry's rapid expansion. Samsung fell as much as 9.98% and SK Hynix 11.71% in early Seoul trading, while SoftBank dropped roughly 11% in Tokyo.

SoftBank Group shares dropped 11% on Friday and the cost of insuring its debt against default ‌hit a four-year high as worries about AI profitability roiled the world's financial markets.

Asian technology stocks tumbled Friday, tracking a sharp sell-off on Wall Street overnight that sent the tech-heavy Nasdaq Composite into correction territory.

The move puts the brakes on SoftBank's bid to buy ABB's robotics division, a deal agreed in October last year at an enterprise value of $5.375 billion.

China blocks SoftBank's $5.4 billion takeover of ABB's robotics division, FT reports

MORIARTY, N.M.--(BUSINESS WIRE)--​Sceye and SoftBank Corp. Sign Agreement for Fleet of Stratospheric Platforms Targeting Nationwide Coverage in Japan.

SoftBank's stock price has crashed by 50% from its all-time high as concerns about the AI industry persist. The stock ended the week at ¥4,481, down 50% from its year-to-date high of ¥9,048.