SoftBank Group's stock price fell 6.9% on Thursday, bringing its cumulative decline to 50% since its June 2 peak, reducing its market capitalization to approximately 24.7 trillion yen (about $157 billion). The catalyst for this sell-off was the bond price of cloud service provider CoreWeave falling to distressed levels, sparking market concerns about overall financing risks in the AI industry. Concurrently, SoftBank's credit default swap (CDS) spread rose to its highest level in nearly four years on Tuesday, reflecting a significant increase in investor caution regarding its highly leveraged structure. SoftBank's Vision Fund's investment in OpenAI is close to $65 billion, but OpenAI is facing challenges from low-cost AI competitors in China, leading to uncertainty in its valuation expectations.