Topline<\/p>\n
Nvidia shares slumped as trading opened Tuesday, after SoftBank announced it had sold its entire stake in the chipmaker to fund its investments in OpenAI, marking the Japanese conglomerate\u2019s latest move to cash out of Nvidia. <\/p>\n
The Japanese investment firm previously cashed out of the chipmaker in 2019. <\/p>\n
Copyright 2020 The Associated Press. All rights reservedKey Facts<\/p>\n
Nvidia shares dipped more than 2% to around $194.60 in early trading Tuesday, after the stock jumped 5.7% the previous trading session.<\/p>\n
SoftBank stated<\/a> in its earnings report that it sold 32.1 million Nvidia shares in October for $5.83 billion, separately disclosing it had sold 40.2 million T-Mobile shares.<\/p>\n Softbank\u2019s chief financial officer Yoshimitsu Goto, when asked about selling Nvidia shares, noted<\/a> SoftBank\u2019s OpenAI investment is \u201clarge,\u201d adding an \u201ceven more than $30 billion investment\u201d would be made, and \u201cfor that, we do need to divest our existing portfolio so that that can be utilized for our financing.\u201d <\/p>\n Surprising Fact<\/p>\n SoftBank first built a roughly $4 billion stake in Nvidia in 2017 before announcing in 2019 it would sell its equity, marking a $3.3 billion return on investment at the time. SoftBank founder and CEO Masayoshi Son said last year he regretted exiting the investment in Nvidia, which would have earned SoftBank more than $150 billion, noting<\/a>, \u201cThe fish that got away was big.\u201d Son said that, after SoftBank acquired chip designer Arm in 2016, he proposed acquiring Nvidia in a conversation with Nvidia CEO Jensen Huang at Huang’s home in California. The deal didn\u2019t work out, Son said. <\/p>\n Read More<\/p>\n","protected":false},"excerpt":{"rendered":"Topline Nvidia shares slumped as trading opened Tuesday, after SoftBank announced it had sold its entire stake in…\n","protected":false},"author":2,"featured_media":257815,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,1921,59,3352,48900,48901,874,41072,56,54,55],"class_list":{"0":"post-257814","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-chatgpt","10":"tag-gb","11":"tag-nvidia","12":"tag-nvidia-shares","13":"tag-nvidia-stock","14":"tag-openai","15":"tag-softbank","16":"tag-uk","17":"tag-united-kingdom","18":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/257814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=257814"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/257814\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/257815"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=257814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=257814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=257814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}