According to SoftBank, the sale will help finance the tens of billions it’s committing to artificial intelligence, including a $30 billion investment in OpenAI by the end of 2025|MIKI Yoshihito|CC BY 2.0
SoftBank announced Tuesday that it has sold its entire $5.83 billion stake in Nvidia as the Japanese conglomerate doubles down on its “all-in” investment in OpenAI.
The move marks the end of its long relationship with the chipmaker.
According to the company, the sale will help finance the tens of billions it’s committing to artificial intelligence, including a $30 billion investment in OpenAI by the end of 2025.
The move appears to be paying off—SoftBank’s fiscal Q2 profit more than doubled from last year, boosted by OpenAI’s soaring valuation.