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.
Akio Kon | Bloomberg | Getty Images
Japanese conglomerate SoftBank said Tuesday it has sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion.
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.
SoftBank’s investments in ChatGPT maker OpenAI and PayPay helped the Japanese giant post a $19 billion gain on its Vision Fund in its fiscal second quarter.
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.
SoftBank’s Vision Fund was an early backer of Nvidia, reportedly amassing a $4 billion stake in 2017 before selling all of its holdings in January 2019.
Despite the sale, SoftBank remains heavily invested in the AI boom through its portfolio companies and infrastructure investments.
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.
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