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SoftBank sells its entire stake in Nvidia for $5.83 billion
SoftBank said Tuesday it has sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion as the Japanese giant looks to capitalize 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.
"So through those options and tools we make sure that we are ready for funding in a very safe manner," he said in comments translated by the company, adding that the stake sales were part of the firm's strategy for "asset monetization."
Japan’s SoftBank says it has sold its shares in Nvidia for $5.8 billion
A woman walks in front of SoftBank store in Ginza shopping district in Tokyo, Jan. 20, 2020. (AP Photo/Eugene Hoshiko, File)
TOKYO (AP) — Japanese technology company SoftBank Group Corp. said Tuesday that it has sold all the Nvidia Corp. shares that it owned for $5.83 billion, while it reported higher than expected profit in the first half of this fiscal year.
Tokyo-based SoftBank Group Corp. said it sold the stake in Nvidia in October.
SoftBank reported its profit in April-September soared to almost triple what it was a year earlier. Its sales for the six months edged up 7.7% to 3.7 trillion yen ($24 billion), it said.
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