SoftBank sells stake in Nvidia for $5.8bn as it doubles down on OpenAI bets

Shares in chipmaker Nvidia fall after announcement by Japanese investor, with other tech shares also slippingBusiness live – latest updatesThe Japanese technology investor SoftBank intensified the debate about valuations in the artificial intelligence world on Tuesday by revealing it had sold its stake in the chipmaker Nvidia.In its latest quarterly results, SoftBank showed it had sold its shares in Nvidia for $5.8bn (£4.4bn) in October, as it doubles down on its bets on OpenAI, the group behind the ChatGPT chatbot. It also reported that second-quarter net profit more than doubled to 2.5tn yen (£12.2bn), driven by valuation gains in its OpenAI holdings. Continue reading...

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