SoftBank Offloads $5.8 Billion Nvidia Stake Amid OpenAI Push
TL;DR Summary
SoftBank's shares dropped up to 10% after selling its entire $5.8 billion stake in Nvidia, citing the need to fund future AI investments, which spooked investors amid concerns of a potential AI industry bubble. Despite strong quarterly results driven by OpenAI, SoftBank is shifting its focus towards AI ventures, including stakes in OpenAI and other tech firms, as it navigates market volatility and aims to become a major player in AI infrastructure.
- SoftBank’s Shares Dive After Nvidia Sale Spooks AI-Wary Market Bloomberg.com
- SoftBank sells its entire stake in Nvidia for $5.83 billion CNBC
- SoftBank Sells $5.8 Billion Stake in Nvidia to Pay for OpenAI Deals The New York Times
- Nvidia Stock Drops After SoftBank Dumps Stake Barron's
- Softbank dumps its entire Nvidia portfolio worth $5.8 billion as its CEO goes all-in on OpenAI to the tune of $30 billion Fortune
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