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SoftBank Divests Nvidia Stake
SoftBank Group (OTC: SFTBF) announced the sale of its entire Nvidia (NASDAQ: NVDA) stake this October, amounting to 32.1 million shares for a total of $5.83 billion. This divestment is part of a strategic move to generate funds for additional investments in artificial intelligence (AI).
SoftBank’s CFO, Yoshimitsu Goto, stated that the decision to divest had no relation to Nvidia’s performance, although Nvidia shares saw a 3% drop on the day of the announcement. Simultaneously, the company sold $9.2 billion in T-Mobile US shares during the same quarter.
As of the end of September, Nvidia represented 19.3% of SoftBank’s portfolio. The company aims to invest an additional $30 billion in OpenAI, which has over 800 million weekly active users of its ChatGPT service.
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