SoftBank sold all 3.5 million NVIDIA shares it held, raising $5.8 billion. The stake in the first company to reach a market value of $5 trillion was divested to make a major investment in OpenAI.
SoftBank CFO Yoshimitsu Got said the disposal of NVIDIA stock was done because the company wants to invest $30 billion in OpenAI this year. Therefore, the existing portfolio needed to be disposed of to generate the necessary funds. In addition to NVIDIA shares, SoftBank also sold some T Mobile shares, raising $9.2 billion.
SoftBank is one of OpenAI's largest investors, contributing funds to build the $500 billion Stargate artificial intelligence (AI) data center. SoftBank CEO Masayoshi Son sees AI as bringing a major change to human civilization, predicting that AI will be 10,000 times smarter than humans by 2035.
