SoftBank shares fall 10% after quarterly loss tops $7B

The size of the quarterly loss matters less than what it says about SoftBank's exposure to its highest-conviction technology bets, which have been the source of both its gains and its fragility. A double-digit share decline signals that the market is repricing that risk rather than treating the loss as a one-off. The open question is whether SoftBank moves to shore up its balance sheet — through asset sales or a shift in investment pace — and how that would ripple through the late-stage tech and crypto-adjacent companies that rely on its capital.