SoftBank Group founder Masayoshi Son shared a personal moment as he explained why the company sold its entire Nvidia stake, saying he “was crying” while letting go of shares he did not want to part with. Speaking at a forum in Tokyo, he said the decision was driven by the need to secure funds for major artificial intelligence investments.
Son explained that SoftBank sold its Nvidia holding for ¥5.83 billion to support new AI plans, including a large commitment to OpenAI and major data centre projects. He said, “I don’t want to sell a single share. I just had more need for money to invest in OpenAI and other projects.” His comments matched what analysts and other SoftBank executives had already stated, calling the move part of a wider push to strengthen the SoftBank Vision Fund’s AI resources.
SoftBank has expanded its AI strategy throughout the year with projects such as the Stargate Project data centres and the purchase of United States chip designer Ampere Computing. A person familiar with the matter earlier said the company might increase its investment in OpenAI depending on future performance and valuation rounds. Son has repeatedly said SoftBank is “all in” on OpenAI and even predicted that the AI company could eventually become the most valuable business in the world. SoftBank recently reported that its second quarter net profit more than doubled to ¥2.5 trillion, supported by valuation gains linked to its OpenAI investment.
Son also addressed growing fears in the market about a potential AI bubble. He dismissed these concerns and said those who raise such warnings are “not smart enough.” He predicted that super artificial intelligence and AI driven robots will generate at least 10 percent of global gross domestic product in the long run, which he believes will exceed the trillions being invested in the technology.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.
