Nvidia CEO Jensen Huang (L) and the CEO of the SoftBank Group Masayoshi Son pose during an AI event in Tokyo on November 13, 2024.<\/p>\n
Akio Kon | Bloomberg | Getty Images<\/p>\n
Japanese conglomerate SoftBank<\/a> said Tuesday it has sold its entire stake in U.S. chipmaker Nvidia<\/a> for $5.83 billion.<\/p>\n The firm said in its earnings statement that it sold 32.1 million Nvidia shares in October. It also disclosed that it sold part of its T-Mobile stake for $9.17 billion.<\/p>\n SoftBank<\/a>‘s investments in ChatGPT maker OpenAI and PayPay helped the Japanese giant post a $19 billion gain<\/a> on its Vision Fund in its fiscal second quarter.<\/p>\n While the Nvidia exit may come as a surprise to some investors, it’s not the first time SoftBank has cashed out of the chipmaker.<\/p>\n SoftBank’s Vision Fund was an early backer of Nvidia, reportedly amassing<\/a> a $4 billion stake in 2017 before selling all<\/a> of its holdings in January 2019.<\/p>\n Despite the sale, SoftBank remains heavily invested in the AI boom through its portfolio companies and infrastructure investments.<\/p>\n The company also remains tied to Nvidia through its other AI ventures that rely on the chipmaker’s technology, including the $500 billion Stargate project for data centers in the U.S.<\/p>\n This is a breaking news story. Please refresh for updates.<\/p>\n","protected":false},"excerpt":{"rendered":"Nvidia CEO Jensen Huang (L) and the CEO of the SoftBank Group Masayoshi Son pose during an AI…\n","protected":false},"author":2,"featured_media":284947,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[5681,28,122,3487,12302,74],"class_list":{"0":"post-284946","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breaking-news-technology","9":"tag-business","10":"tag-business-news","11":"tag-nvidia-corp","12":"tag-softbank-corp","13":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/284946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=284946"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/284946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/284947"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=284946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=284946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=284946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}