Japanese technology giant SoftBank said Tuesday it has sold its stake in Nvidia, raising $5.8 billion to pour into other investments. It also reported its profit nearly tripled in the first half of this fiscal year from a year earlier.
Tokyo-based SoftBank Group Corp. said it sold the stake in Silicon Valley-based Nvidia in October, a move that reflects its shift in focus to OpenAI, owner of the artificial intelligence chatbot ChatGPT.
SoftBank reported its profit in April-September soared to about 2.5 trillion yen (about $13 billion). Its sales for the six month period rose 7.7% year-on-year to 3.7 trillion yen ($24 billion), it said.
The company’s fortunes tend to fluctuate because it invests in a range of ventures, including through its tech-focused Vision Funds. Those recently have paid off.
In February, SoftBank’s chairman Masayoshi Son joined President Donald Trump, Sam Altman of OpenAI and Larry Ellison of Oracle in
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