Trump announces trade deal with EU following months of negotiations
Investing.com -- T-Mobile US (NASDAQ:TMUS) stock fell 4.75% after SoftBank (TYO:9984) Group Corp. raised around $4.8 billion through a sale of T-Mobile US Inc. shares, as the Japanese conglomerate seeks to fund its ambitious artificial intelligence initiatives.
The Tokyo-based technology group sold 21.5 million T-Mobile shares for $224 each in an unregistered overnight block sale, according to Bloomberg News. The offering was priced at a 3% discount to T-Mobile’s Monday closing price of $230.99 per share.
SoftBank founder Masayoshi Son is accelerating investments aimed at advancing AI capabilities, with plans to invest as much as $30 billion in OpenAI. The company is also collaborating with the ChatGPT creator to direct hundreds of billions of dollars into data centers and related infrastructure globally under the Stargate initiative.
The share sale comes as SoftBank’s original plans for debt financing reportedly encountered obstacles related to uncertainties surrounding US tariffs.
T-Mobile shares traded at $219.80 in pre-market activity, while the broader S&P 500 was down 0.5%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.