OpenAI Delay Effect Hurts Bulls: SoftBank Shares Continue to Fall Over 6% and Lose 6,000 Level, Where Is the Next Support Level?

TradingKey - OpenAI's IPO delay and ongoing financial losses continue to weigh on SoftBank's share price, which tumbled today to break below 6,000 yen and could test the 4,800-5,000 yen range.

During Asian trading hours on June 29, shares of Japanese multinational technology and telecommunications conglomerate SoftBank Group Corp. (9984) continued their decline, breaking below the key 6,000 yen level. As of press time, SoftBank's stock was down over 300 yen, or 6.07% intraday, trading at 5,848 yen.

SoftBank stock chart. Source: TradingView

Last Friday (June 26, 2026), SoftBank shares took a heavy beating, plunging more than 14% intraday before closing down 12.53%, wiping out nearly 5.6 trillion yen in market value in a single day. Ultimately, SoftBank failed to hold the 6,000 yen level. The core trigger for this selloff was reports that AI giant OpenAI, in which SoftBank has heavily invested, is delaying its IPO, sparking a chain reaction.

According to reports from media outlets including The New York Times, OpenAI's advisory team warned that heightened volatility in global tech stocks, coupled with downward pressure on SpaceX's post-IPO stock price, indicates a cooling of market enthusiasm for high-valuation companies. Despite this, OpenAI CEO Sam Altman has refused to lower expectations, holding firm on a $1 trillion IPO valuation target. This has prompted executives to lean toward pushing the IPO timeline from late 2026 to 2027, attempting to buy time to grow into the valuation.

Beyond the IPO delay, OpenAI's financial fundamentals have also unnerved the market. According to newly disclosed data, as OpenAI aggressively expands its computing power and infrastructure, its losses continue to mount. The company posted a net loss of over $21.3 billion in the first quarter of 2026, compared to a $39 billion net loss for the entire year of 2025. This has deepened investor skepticism regarding when massive AI capital expenditures will finally translate into profits.

In the face of market chatter about an "AI bubble," SoftBank founder Masayoshi Son had only recently refuted such claims at the annual shareholders' meeting, pledging to double down on artificial intelligence. However, OpenAI's delay has undoubtedly poured cold water on the market, forcing investors to reassess the risk exposure of SoftBank's aggressive AI strategy, triggering panic selling.

Although flagship investment OpenAI has hit a speed bump, Son is currently throwing his weight behind "Roze," a physical robotics startup that integrates AI and hardware assets. The startup is aiming for a $100 billion IPO as early as the second half of 2026. However, the market appears unconvinced by this speculative catalyst, leaving the stock under short-term pressure. From a technical perspective, SoftBank's next support level lies between 4,800 and 5,000 yen. This range served as the launchpad for its rally to record highs on June 1 of this year, drawing substantial market interest, and represents a key psychological round-number level that should provide solid support. SoftBank stock chart. Source: TradingView