S&P Lowers SoftBank Outlook Over OpenAI Investment

S&P Global on March 3, 2026 lowered SoftBank Group's outlook to negative from stable, saying the company's plan to invest an additional $30 billion in OpenAI may weaken liquidity and credit quality. The agency affirmed SoftBank's BB+ long-term issuer rating, noting the investment will raise SoftBank's OpenAI stake to about 13% and increase unlisted-asset exposure above 50%. S&P warned asset sales or an OpenAI IPO may be needed to restore metrics.