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Feb 12, 2026
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LONG
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SoftBank is expected to book ~$6.5B in valuation gains from its OpenAI stake. The stock is trading as a proxy for OpenAI sentiment. With OpenAI expected to raise funding at a $100B+ valuation, SoftBank's asset value reprices higher. SoftBank is effectively the only public, liquid way to get exposure to OpenAI's valuation markup (outside of MSFT). LONG SoftBank as an OpenAI valuation proxy. OpenAI valuation collapses or SoftBank is forced to sell assets to fund further investments. |
Bloomberg Markets
China's Zhipu Jolts AI Race as 'Scare Trade' ...
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