LOADING...

SoftBank's NVIDIA sell-off sends stock plummeting

Business

SoftBank's stock dropped nearly 10% after it sold its NVIDIA stake for $5.8 billion.
The move is part of a bold push into AI, with huge bets on OpenAI, chipmaker Ampere, and ABB's robotics business—adding up to over $41 billion in recent spending.
Even after all this, SoftBank still has a hefty cash reserve of about $28 billion.

This is a big signal

This is a big signal: SoftBank is deepening its exposure to AI investments.
CEO Masayoshi Son isn't worried about the dip—Navneet Govil, CFO at SoftBank's Vision Fund, believes today's AI companies are actually making money, unlike the dotcom days.
For anyone watching where tech (and jobs) might be headed next, this is one to watch.