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SoftBank shares plunge 10% amid broader tech sell-off

Shares of SoftBank fell 10% following an overnight sell-off in the U.S. market on the back of wider profit taking in the tech sector. Other Asian tech giants also saw their share prices fall. While the Japanese investment giant recently overtook Toyota Motor as Japan's most valuable company, there are market concerns over SoftBank's high-risk bets on AI, even as its share price has risen about 70% year-to-date on investor enthusiasm over the new technology.

CNBC 6d ago

Leveraged ETF assets double in two months as investors press AI bet

Assets in leveraged ETF nearly doubled over two months, as investors scrambled for maximum exposure to the artificial intelligence trend. "Investors increasingly use leveraged instruments linked to the 'AI-trade' – assets in leveraged ETFs linked to AI and Tech themes have surged, with exposures in the US and Korea/Taiwan rising sharply- more than doubling in recent months," wrote Goldman's Christian Mueller-Glissmann in a note. Goldman cited data from EPFR tracking 573 leveraged U.S. equity...

CNBC 6d ago