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SoftBank shares plunge 10% as Asian AI-linked stocks slide on valuation jitters
A woman uses her mobile phone as she walks past the logo of Japan’s telecommunications giant SoftBank in Tokyo on December 25, 2013.
Toru Yamanaka | Afp | Getty Images
Shares of Asian AI-linked companies fell Wednesday, tracking declines in U.S. peers, as investors turned wary of stretched valuations in the market’s most crowded trades.
Shares of SoftBank fell 10%, while Advantest declined over 8%.
That comes after Palantir dropped about 8% overnight, even after topping expectations for the third quarter, as sky-high valuations for the U.S. software company — and the broader AI theme — hit investor sentiment.
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