Softbank sold its stake in Nvidia for $5.83 billion to focus on artificial intelligence, the company said Tuesday. Nvidia shares dipped slightly.
Nov. 11 Softbank sold its entire stake in Nvidia for $5.83 billion to focus on artificial intelligence, the company reported Tuesday.
In its earnings statement, the Japanese company said it sold 32.1 million Nvidia shares in October to focus on its investment in OpenAI’s ChatGPT. It also said it sold some of its T-Mobile shares for $9.17 billion.
«We want to provide a lot of investment opportunities for investors, while we can still maintain financial strength», said SoftBank’s Chief Financial Officer Yoshimitsu Goto during an investor presentation, CNBC reported.
SoftBank announced in February that it’s investing $3 billion annually with OpenAI as part of a joint venture called SB OpenAI Japan, to market OpenAI’s technology to Japanese companies.
