:max_bytes(150000):strip_icc()/GettyImages-2246177950-f596fd3f8d364eea9ca8f4c429f36a2e.jpg "SoftBank Sells Nvidia Stake, Stock Drops")
SoftBank Sells Nvidia Stake, Stock Drops
- * SoftBank sold its entire stake in Nvidia: They sold 32.1 million shares in October for $5.83 billion (average price ~$182/share).They also raised $9.17 billion from selling T-Mobile...
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* SoftBank sold its entire stake in Nvidia: They sold 32.1 million shares in October for $5.83 billion (average price ~$182/share).They also raised $9.17 billion from selling T-Mobile shares earlier in the year.
* SoftBank is reinvesting in AI: Despite selling Nvidia stock, SoftBank is increasing its investment in OpenAI, having committed over $22 billion in additional funding last month. They previously invested billions earlier in the year, making OpenAI the world’s most valuable startup.
* Nvidia stock is experiencing some pullback: While Nvidia hit a record high recently,its stock was down over 3% during midday trading,mirroring broader market trends.
* Key Takeaway: SoftBank is shifting its AI investment strategy, moving funds from Nvidia to OpenAI.