ASI and SoftBank Group Form Joint Venture to Advance Autonomous Construction at Scale

SoftBank Group's stock rebounded in September, rising 24%, as investors focused on AI returns from its $65 billion OpenAI commitment and Arm Holdings' recovery, despite higher borrowing costs and credit risks.

Japan's stock market rose, led by tech firms Tokyo Electron and Advantest, due to confidence in tech supported by economic data and central bank signals. SoftBank fell 2.63% after Oracle's decline, linked to a data center issue. The TSE banking sub-index jumped 3.23%, possibly driven by dividends rather than fundamentals.

SoftBank Group plans to raise $11.1B through high-yield bonds, with yields up to 9.75%, to invest in OpenAI. The bonds are dollar- and euro-denominated and have low credit ratings, according to the company.

SoftBank raised $11.1 billion in bonds, including $10B for OpenAI. The sale involved dollar-denominated notes with rates from 8.625% to 9.75% and €1B in euro-denominated bonds. This follows a prior $6.32B yen-denominated bond sale, supporting SoftBank's AI investment strategy.

Japan's Nikkei rose 1.33% to 65,883.41 as CPU-related stocks surged after Meta unveiled the Meta Charm gadget. Ibiden gained 15.47%, Socionext, Meiko Electronic, and Ushio Inc rose over 10% each. Advantest increased 4.09%, boosting the Nikkei. Bank shares fell, weighing on the Topix. Japan's 10-year bond yield hit 3.055%, its highest since 1996.

SoftBank issued $11.1 billion in bonds, including dollar-denominated notes at 8.625%, 9.25%, and 9.75% interest rates, and euro-denominated notes at 7.125% and 8%. The proceeds will fund its $10 billion investment in OpenAI, part of a $30 billion commitment. SoftBank also recently issued 1 trillion yen in retail-focused corporate bonds.