SoftBank founder Masayoshi Son said parting with the company’s entire NVIDIA stake was an emotional moment. He emphasized that the sale wasn’t due to any doubts about NVIDIA’s value but was necessary to fund SoftBank’s expanding AI projects as the group intensifies its focus on the sector.
At the FII Priority Asia forum in Tokyo on Monday, Masayoshi Son discussed SoftBank’s November announcement that it had sold its NVIDIA stake for $5.83 billion. He clarified that the move was not a reflection of any concerns about the chipmaker, but rather a strategic step to fund the company’s ambitious new AI initiatives.
I didn’t want to part with a single share,” Son admitted. “But I needed additional funds to invest in OpenAI and other initiatives. Selling our NVIDIA shares was heartbreaking.
Throughout the year, SoftBank has been intensifying its AI strategy, investing heavily in initiatives such as the expansive Stargate Project data centres and the purchase of US chipmaker Ampere Computing.
SoftBank is also planning to deepen its support for OpenAI, with the possibility of increasing its investment based on the startup’s performance and valuation in upcoming funding rounds, according to a source familiar with the matter who spoke to CNBC.
Son has consistently highlighted OpenAI as the cornerstone of SoftBank’s next chapter, stating earlier this year that the group is “fully committed” to the ChatGPT developer and forecasting that it could one day become the world’s most valuable company.
That confidence has already paid off financially. SoftBank reported a second-quarter net profit of 2.5 trillion yen ($16.6 billion), more than double the previous period, boosted in part by gains from its investment in OpenAI.
SoftBank’s bold approach comes amid growing investor debate over a potential AI bubble. On Monday, Son brushed off such warnings, stating that those cautioning about an AI bubble are “not smart enough.
He asserted that progress in “super [artificial] intelligence” and robotics could ultimately contribute at least 10% to global GDP, easily validating the trillions of dollars currently being invested in the sector.
Even after selling NVIDIA, one of the world’s top semiconductor companies, Son emphasized that the decision was strictly strategic. He indicated that SoftBank isn’t stepping back from AI, but rather redirecting its capital further into the technology.
