SoftBank Drops Over 9% as Asian AI Stocks Tumble on July 17

According to Security Times, on July 17, SoftBank Group dropped more than 9% amid a broader selloff in Asian AI-related stocks triggered by weakness in US chip shares. Tokyo Electron and Advantest fell more than 8% and 10%, respectively, as investors grew concerned about potential slowdowns in hyperscaler AI infrastructure spending.

TSMC, however, signaled robust AI demand by setting its 2026 capital spending at the high end of its US$52 billion to US$56 billion guidance and raising its full-year US-dollar revenue growth outlook to more than 30%.