SoftBank sold its entire $5.83 billion stake in Nvidia to fund investments in OpenAI, offloading 32 million shares. CFO Yoshimitsu Goto clarified the move was not due to Nvidia itself, but to raise capital for OpenAI investments exceeding $30 billion. SoftBank’s profits nearly tripled to $13 billion, with revenue reaching $24 billion.

The profits were partly fueled by a $19 billion gain from the Vision Fund, focusing on tech and AI stocks like semiconductors, robotics, and language models. SoftBank’s founder, Masayoshi Son, is positioning the group as a key player in global AI development. Concerns about an overheated AI market persist as tech firms invest billions in new projects, with some warning of inflated valuations.

Read more at Yahoo Finance: SoftBank cashes out Nvidia stake to pay for its OpenAI bet