"Tokyo-based SoftBank Group Corp. said it sold the stake in Silicon Vally-based Nvidia in October, a move that reflects its shift in focus to OpenAI, owner of the artificial intelligence chatbot ChatGPT.SoftBank reported its profit in April-September soared to about 2.5 trillion yen (about $13 billion). Its sales for the six month period rose 7.7% year-on-year to 3.7 trillion yen ($24 billion), it said.The company's fortunes tend to fluctuate because it invests in a range of ventures, including through its tech-focused Vision Funds."
"In February, SoftBank's chairman Masayoshi Son joined Trump, Sam Altman of OpenAI and Larry Ellison of Oracle in announcing a major investment of up to $500 billion in a project to develop artificial intelligence called Stargate.SoftBank has invested tens of billions of dollars in OpenAI. The two companies also plan to provide AI services in Japan.Selling SoftBank's stake in Nvidia reflects Son's shift in strategy and also nets his company a healthy profit thanks to the recent runup in Nvidia's market value."
"Nvidia recently become the first $5 trillion company, just three months after it broke through the $4 trillion barrier. It plans a $100 billion investment in OpenAI as part of a partnership that will add at least 10 gigawatts of Nvidia AI data centers to ramp up OpenAI's computing power.The chip maker and other winners in the frenzy around artificial-intelligence technology have been driving much of this year's rally in share prices."
SoftBank sold its Nvidia stake in October and raised $5.8 billion to allocate toward other investments, notably in AI. Profit for April–September rose to about 2.5 trillion yen (~$13 billion) and sales grew 7.7% to 3.7 trillion yen (~$24 billion). SoftBank invests across ventures through its Vision Funds and has recently realized significant gains. Masayoshi Son joined a $500 billion Stargate AI initiative with major investors, and SoftBank has invested tens of billions in OpenAI while planning to provide AI services in Japan. Nvidia's market surge and planned investments into OpenAI underpin broader AI-driven market rallies and partnership dynamics.
Read at Fast Company
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