SoftBank Group shares are quoted on the offer side after reports that annualized revenue at its investee OpenAI may fall below market expectations. Following an FT report, OpenAI was said to have described annualized revenue as just under $50 billion as of September.
SoftBank Group is quoted on the offer side after reports that the outlook for its investee OpenAI may fall below market expectations, prompting selling in the shares.
According to a report by the UK's Financial Times, OpenAI appears to have told investors that its annualized revenue was just under $50 billion as of September. This is described as substantially below the previously reported figure of $70 billion.
The information has prompted selling pressure across OpenAI-related stocks, with SoftBank Group shares also coming under selling pressure.