Asian tech stocks tumble as SK Hynix drops 10% in AI sell-off
What's next: Microsoft and Meta earnings, plus the Fed decision, are set to test whether AI spending can still support chip valuations.
Subject
#Softbank Group
SK Hynix drops 10% as chip selloff spreads across Asia
Why it matters: The slide hit Samsung, Tokyo Electron and TSMC as investors reassessed AI server spending tied to U.S. tech demand.
Bloomberg, The New York Times +1
SoftBank’s Son stays on, targets 10 more years to push AI
What’s new: the 68-year-old founder tied his extended tenure to a broader AI and robotics push, including Arm, OpenAI and ABB deals.
Carro explores US IPO that could raise up to $500 million
What's new: The SoftBank-backed startup is also weighing a Singapore listing through the exchange's new Global Listing Board.
Bloomberg, The Business Times (Singapore)
SoftBank rejects orbital data centers, backs Earth-based AI buildout
What's new: Masayoshi Son argued power is only a small share of data center costs, making launch, maintenance and latency bigger hurdles in space.