SoftBank Divests Entire Nvidia Stake for $5.83 Billion

According to CNBC post, SoftBank announced on Tuesday that it has sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion. The transaction involved 32.1 million shares sold in October and is part of SoftBank's strategy to support its investments in OpenAI, the creator of ChatGPT.

The company also reported selling a portion of its stake in T-Mobile for $9.17 billion. SoftBank's Chief Financial Officer, Yoshimitsu Goto, emphasized during an investor presentation that the sales aim to provide diverse investment opportunities while ensuring financial stability.

“We want to provide a lot of investment opportunities for investors while maintaining financial strength,” he stated, highlighting that these actions are part of an asset monetization strategy.

Despite this recent exit, SoftBank has a history with Nvidia, having previously sold its entire stake in early 2019 after initially investing $4 billion through its Vision Fund in 2017. Nvidia's shares fell by 0.95% in premarket trading following the announcement.