SoftBank Sells Entire Nvidia Stake for $5.83 Billion to Fund OpenAI Investment Strategy
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Summary
SoftBank has sold its entire stake in Nvidia for $5.83 billion and part of its T-Mobile stake for $9.17 billion as the Japanese conglomerate seeks to capitalize on its major investment in OpenAI and maintain financial strength while creating new investment opportunities.
Key quotes
· 3 pulledSoftBank said Tuesday it has sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion as the Japanese giant looks to capitalize on its 'all in' bet on ChatGPT maker OpenAI.
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.
'We want to provide a lot of investment opportunities for investors, while we can still maintain financial strength,' said SoftBank's chief financial officer, Yoshimitsu Goto, during an investor presentation.
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