Reported 2 months ago
On August 5, 2024, SoftBank Group suffered its most significant stock decline since going public in 1998, plummeting 19% and erasing $15 billion from its market value amid a broader market downturn. This decline follows Masayoshi Son's planned investments in AI and semiconductors and reflects growing concerns about the ability of AI companies to generate revenue. The stock's descent, now down 38% for the September quarter, has significantly impacted Son's personal wealth, bringing to light ongoing volatility in the technology sector.
Source: YAHOO