SoftBank leads decline in Japanese tech stocks as worries over AI spending spill over to Asia

Core Insights - SoftBank Group and OpenAI have announced a partnership to establish a joint venture for artificial intelligence services in Japan [1] - Japanese tech stocks, particularly SoftBank, experienced significant declines due to concerns over AI infrastructure spending [2][3] Group 1: Market Reactions - SoftBank Group Corp saw a decline of up to 7.25% in the Nikkei 225 index, which fell by 1.23% overall [2] - The Nasdaq Composite index dropped by 1.81%, influenced by losses in major tech companies involved in AI, including Oracle, Broadcom, and Nvidia [2] Group 2: Company Developments - Oracle's stock losses were attributed to stalled financing plans for a $10 billion data center, which raised concerns about AI project delays [3] - SoftBank had previously announced plans to invest $500 billion in AI infrastructure in the U.S. alongside partners like OpenAI and Oracle, and revealed five new AI data center sites under the Stargate platform [4]