SoftBank Stock Falls Over 10% as $64.6B OpenAI Bet Faces Pressure, Zoom Gains on Anthropic Stake

• SoftBank stock fell over 10% as investors reassessed the group’s planned $64.6 billion OpenAI investment and broader AI exposure
• Zoom stock held up better, with its Anthropic stake valued at about $3.13 billion after a $1.61 billion unrealized quarterly gain
• A potential Anthropic IPO at a valuation near $2 trillion could further lift the value of Zoom’s AI investment, while SoftBank remains more exposed to swings in OpenAI sentiment

SoftBank stock took one of the hardest hits in Monday’s AI selloff, falling over 10% in Tokyo after sliding more than 13% intraday. The move came as investors looked at the pace of AI development and SoftBank’s enormous OpenAI investment, which is expected to reach $64.6 billion. Zoom moved the other way. Its own private AI bet, a multibillion-dollar stake in Anthropic, is becoming a much more visible part of the stock’s valuation story.

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SoftBank Stock Slides as OpenAI Exposure Comes Into Focus

The selloff was bigger than SoftBank alone. Nvidia, AMD and other AI-linked names also fell after executives including Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman backed calls for slower development of advanced AI systems over safety concerns. Reports revealed that chip stocks were among the worst performers as investors questioned whether a slowdown could eventually affect AI infrastructure spending.

But for SoftBank, the sensitivity is unusually high. The company agreed earlier this year to invest another $30 billion in OpenAI, taking its expected cumulative commitment to $64.6 billion and its ownership to roughly 13%. The investment was agreed at a $730 billion pre-money valuation.

It makes OpenAI more than another portfolio company for SoftBank. A change in sentiment around private AI valuations, spending plans, or the timing of an IPO can feed directly into how investors value the Japanese group. OpenAI has also indicated that a public listing may be pushed into 2027, adding another layer of uncertainty for investors looking for a near-term valuation event.

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Zoom Stock Shows the Other Side of the AI Trade

Zoom stock held up better during the same session, and its Anthropic position offers an interesting contrast. Zoom’s latest SEC filing shows its preferred shares in Anthropic were worth $3.13 billion as of July 31. The company recorded a $1.61 billion unrealized gain on that investment during the quarter after Anthropic’s latest financing round.

The timing is important because the proposed Anthropic IPO could value the company at around $2 trillion, with Reuters reporting that the offering could raise as much as $100 billion.

Zoom is still a software company, and its quarterly revenue grew a relatively modest 4.9% to $1.28 billion. But the Anthropic stake has become large enough to noticeably affect reported earnings and investor perceptions.

The two stocks are reacting very differently to their AI bets. SoftBank is taking the hit as investors grow more cautious around OpenAI, while Zoom’s Anthropic stake has turned into a meaningful source of value.

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