SoftBank sinks 12% as Asia tech rout tracks declines in the U.S.

SoftBank Group plunged more than 12% on Friday, leading a broad selloff in Asian technology stocks, amid mounting concerns over the rising cost of artificial intelligence infrastructure. The Japanese conglomerate led losses across the region after the Nasdaq Composite fell for a fourth straight session overnight. The tech-heavy index dropped 0.46% as a 6% plunge in Apple overshadowed Micron's stronger-than-expected earnings. SoftBank Group could remain under pressure after its chip designer Arm Holdings fell 3.2% overnight, underperforming the broader semiconductor sector even as AI-related stocks rebounded sharply.Andrew Jackson, an equity strategist at Ortus Advisors, said investor enthusiasm for SoftBank may also be capped by reports that OpenAI could delay its initial public offering…

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