Nvidia CEO Jensen Huang (L) and the CEO of the SoftBank Group Masayoshi Son pose during an AI event in Tokyo on November 13, 2024.
Japanese conglomerate SoftBank said Tuesday it has sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion.
The firm said in its earnings statement that it sold 32.1 million Nvidia shares in October. It also disclosed that it sold part of its T-Mobile stake for $9.17 billion.
The announcement came after SoftBank posted a $19 billion gain on its Vision Fund in its fiscal second quarter, helped by investments in ChatGPT maker OpenAI and electronic payment services firm PayPay.
The Vision Fund has been aggressively pushing into artificial intelligence, investing and acquiring firms throughout the AI value chain from chips to large language models and robotics.
While the Nvidia exit may come as a surprise to some investors, it's not the first time SoftBank has cashed out of the American AI chip darling.
SoftBank's Vision Fund was an early backer of Nvidia, reportedly amassing a $4 billion stake in 2017 before selling all of its holdings in January 2019.
Despite its latest sale, SoftBank's business interests remain heavily intertwined with Nvidia's.
That Tokyo-based company is involved in a number of AI ventures that rely on Nvidia's technology, including the $500 billion Stargate project for data centers in the U.S.
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