AI Skepticism Weighs on Tech Markets as Nasdaq Slips

SoftBank Group saw its shares tumble following reports that OpenAI, a cornerstone of the conglomerate’s investment strategy, has pushed back its anticipated IPO timeline to 2027. This delay serves as a fresh headwind for investors banking on a rapid return from AI-focused ventures.

Simultaneously, consolidation and competition continue to reshape the landscape. ON Semiconductor shares declined after the chip maker announced a $7 billion all-stock acquisition of AI-hardware specialist Synaptics. Meanwhile, China’s DeepSeek is aggressively scaling operations, planning to double its headcount after securing $7.4 billion in funding. The firm aims to challenge U.S. incumbents OpenAI and Anthropic directly, highlighting that global capital remains committed to the sector despite the recent market volatility.