SoftBank Group Corp. (OTC:SFTBY) dropped Friday after Bloomberg reported citing NYT that OpenAI is planning to postpone its public offering until 2027.
As a result, the news hit SoftBank really hard. OpenAI is one of the company’s most prized assets and a core pillar of its AI strategy.
Moreover, the selloff reversed an 8% gain SFTBY stock made earlier in the week. That move was made by optimism in the semiconductor sector. However, once the IPO delay news broke, the stock dropped.
What Triggered the SFTBY Stock Drop
The New York Times cited three people involved in OpenAI’s internal deliberations. Specifically, the report states OpenAI is weighing a delay of its public debut from late 2026 to 2027.
According to the New York Times, as reported by Reuters, as OpenAI’s CEO Sam Altman remains unwilling to compromise on the company’s targeted valuation of as much as $1 trillion.
For SoftBank, the timing matters enormously. As a result, a delayed IPO pushes back the monetization event investors have been pricing into SFTBY stock. The Japanese conglomerate has invested over $34.6 billion in OpenAI and committed to an additional $30 billion.
SoftBank’s Financials: Strong NAV, But AI-Dependent
SoftBank reported its full-year fiscal 2025 results in May 2026. Net sales came in at ¥7,798.7 billion, up 7.7% year-over-year. Net income reached ¥5,002.3 billion ( it is a 333.7% pump from the previous year).
Mark-to-market gains on AI holdings, including OpenAI, drove that profit growth.
Net asset value is SoftBank’s primary KPI. It reached ¥40.1 trillion at fiscal year-end, up from ¥25.7 trillion a year earlier. Management’s latest pro forma estimate expects NAV at ¥48 trillion. The company held a cash position of ¥3.5 trillion as of March-end.
Bond Issuances Strengthen SoftBank’s Cash Position
Equity investors are selling SFTBY stock today. But SoftBank has quietly built a strong liquidity buffer through repeated bond offerings in 2026.
- April 2026 (Retail hybrid bond): SoftBank priced ¥418 billion ($2.6 billion) in 35-year subordinated hybrid notes. The coupon came in at a record 4.97%. Proceeds went to refinancing bonds that reached their first call date in June 2026.
- April 2026 (Institutional dual-currency bond): SoftBank raised ~$3.5 billion across six tranches in dollar and euro markets. Proceeds refinanced existing foreign-currency notes and partially repaid a bridge loan tied to OpenAI investments.
- May/June 2026 (Second retail hybrid bond): SoftBank raised an additional ¥260 billion ($1.6 billion) through another hybrid bond targeting retail investors. The coupon range was 4.8%–5.6%.
Cumulative retail bond issuance now is around ¥10 trillion. Even without an OpenAI IPO in 2026, SoftBank has the runway to fund its Stargate commitments and AI infrastructure pipeline. Near-term financing risk is lower than the SFTBY stock price suggests.
The Bigger Picture for SFTBY Stock
SoftBank has always bet early on transformative technology. Masayoshi Son has described OpenAI and artificial superintelligence as generational opportunity, dismissing AI bubble concerns.
But markets are recalibrating. SpaceX debuted at $135 per share in mid-June, briefly hit $225, and has since retreated to around $157. Retail enthusiasm for trillion-dollar tech listings appears to be cooling.
SoftBank’s bond issuance signals that management is focused on financial flexibility. But with the OpenAI IPO catalyst now potentially 18 months away, SFTBY stock may struggle to find a near-term re-rating event.
Until then, price action will likely track AI sentiment broadly. Any fresh news on OpenAI’s listing timeline could move SFTBY sharply in either direction.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
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