SoftBank sells entire $5.8B NVIDIA stake
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But SoftBank isn't bailing on AI. Instead, it's selling the world's hottest AI stock so it can buy more AI. SoftBank has already put $7.5 billion into OpenAI, and plans on investing another $22.5 billion into the company soon.
SoftBank Group Chief Executive Masayoshi Son's "all in" bet on OpenAI appears to be paying dividends after the ChatGPT-maker's valuation soared this year, producing a surge in quarterly profit for the Japanese technology investor.
SoftBank Group (SFTBY) explored a potential takeover of Marvell Technology (MRVL) earlier this year in what would have been the semiconductor industry's largest-ever acquisition, according to a Bloomberg report.