SoftBank Sells Nvidia Shares for $5.8 Billion
SoftBank Group Corp. has divested its entire stake in Nvidia Corp., achieving a sale amounting to $5.83 billion. This significant transaction occurred in October 2023, as announced by the Tokyo-based technology firm.
Strong Financial Performance
In conjunction with this sale, SoftBank reported a substantial increase in profits for the first half of the fiscal year. For the period spanning April to September, the company’s profits surged to nearly three times the amount from a year earlier.
Additionally, SoftBank’s revenues for the same six-month period rose by 7.7%, reaching approximately 3.7 trillion yen, which is equivalent to $24 billion.
Investment Strategies and Future Focus
SoftBank’s investment portfolio is diverse, primarily managed through its Vision Funds. Recently, investments in OpenAI have proven to be particularly profitable. Masayoshi Son, the group’s founder, is increasingly concentrating on the growth potential of artificial intelligence (AI).
Alongside OpenAI, SoftBank has also invested in Arm Holdings and Taiwan Semiconductor Manufacturing Co., both key players in the computer chip industry. These investments have been positively impacted by the rising demand in the AI sector.
Stock Performance
The financial results have positively influenced SoftBank’s stock performance, which has nearly doubled over the past year. Following the announcement of the Nvidia sale, SoftBank’s shares rose by almost 2% on the trading day.
Key Statistics
- Nvidia Sale: $5.83 billion
- Profit Increase: Nearly triple compared to the previous year
- Sales Revenue: 3.7 trillion yen ($24 billion)
- Stock Performance: Nearly doubled in the past year
- Stock Increase on Announcement: Approximately 2%
