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SoftBank credit risk jumps to 4-year high as AI fears roil market
SINGAPORE/TOKYO: The cost of insuring against a default for tech investor SoftBank Group jumped to its highest in four years on Friday as worries about AI profitability roiled the world’s financial markets. The 5-year credit default swap spread for SoftBank rose 22 basis points to 466 bps, according to Markit data, the widest since October 2022. SoftBank is seen as a bellwether for the prospects of AI investment due to its $64.6 billion investment in frontier model developer OpenAI and 90% stake in chip designer Arm. SoftBank seeks up to $100 billion from Gulf investors for AI push, FT r...
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