SoftBank has unexpectedly left the list of NVIDIA shareholders after selling all the securities he had in the company. In total, it has obtained 5.83 billion dollars from them, which it will allocate to other investments. The company has confirmed that the sale of NVIDIA shares occurred last October, and according to the Associated Press, the step taken by the Japanese investor is due to its interest in entering OpenAI.
Thus, Softbank has sold the 32.1 million shares it had in NVIDIA, which it confirmed in its latest results publication. It is not the only shareholding that the investor has gotten rid of, since it has also sold part of its shares in T-Mobile, an operation for which it has earned $9.17 billion.
During the presentation of the results to SoftBank investors, its CFO, Yoshimitsu Gotohas highlighted that they want «offer many investment opportunities to investors while we can maintain financial strength. Therefore, through these options and tools we ensure that we are ready to finance in a very safe way.«. He has also commented that the share sales were part of the company’s strategy, which aims to monetize assets.
In recent months, SoftBank has invested tens of billions of dollars in OpenAI, and their future plans include offering AI services in Japan, for which they have created a joint company.
Furthermore, last February, the President of SoftBank, Masayoshi Son, announced his entry with OpenAI and Oracle into a project to develop AI, called Stargate, and in which the three entities have invested half a billion dollars.
In addition, the company has indicated that its profits have almost tripled in the first half of its current fiscal year compared to the same period of the previous year. Thus, its profits between last April and September were around $13 billion. Its sales for that period rose 7.7% year-on-year to $24 billion.
