Why Did SoftBank Just Sell Its Entire Nvidia Stake?

SoftBank Group (OTC: SFTBF) this week revealed it sold its entire Nvidia (NASDAQ: NVDA) stake in October, some 32.1 million shares for a total of $5.83 billion. SoftBank is a Japanese holding company that focuses on investment management. It invests in public and private businesses through its venture capital funds. The company's Vision Fund is the world's largest venture capital fund focused on technology. And as of the end of September, Nvidia accounted for 19.3% of SoftBank's portfolio.SoftBank CFO Yoshimitsu Goto said the October sale had nothing to do with Nvidia itself. Instead, the company made several large divestments in the quarter, including the sale of $9.2 billion in shares of T-Mobile US, to raise money for other artificial intelligence (AI)-related investments.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool