SoftBank Group shares fell 12.5% after reports that OpenAI is weighing a delay of its planned IPO until 2027 to preserve a valuation near $1 trillion. The decline marked SoftBank as one of the biggest contributors to the Nikkei 225’s roughly 4% drop on Friday. SoftBank committed $64.6 billion to OpenAI in February, raising its total investment to that amount and giving the conglomerate about 13% ownership. The exposure makes SoftBank’s stock sensitive to OpenAI’s listing plans. OpenAI’s chief executive, Sam Altman, has said he opposes reducing the company’s valuation to accelerate a market debut. The company filed a draft registration statement with the U.S. Securities and Exchange Commission earlier this month and said no final decision has been made on the timing of an IPO. In addition to the financial considerations, OpenAI announced a custom AI chip called Jalapeño, developed with Broadcom, and unveiled the GPT‑5.6 model family under the names Sol, Terra and Luna, which attracted attention in crypto circles but were described by OpenAI as tiered capability releases. Amazon withdrew distribution of a film centered on Altman and is in talks with other partners, while the company has expanded a multi‑billion‑dollar investment commitment linked to future milestones. SoftBank founder Masayoshi Son defended the firm’s aggressive AI spending two days before the share decline, rejecting concerns that heavy investment resembles a speculative bubble.