- cross-posted to:
- hackernews@lemmy.bestiver.se
- cross-posted to:
- hackernews@lemmy.bestiver.se
SoftBank said Tuesday it has sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion as the Japanese giant looks to capitalize on its “all in” bet on ChatGPT maker OpenAI.
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Knowing when to exit a bubble is a real strength.
They’re moving most of the money to Open AI and a minority of it to a (presumably AI) company called Ampere
The corroborating story I found is a bit more explicit that this isn’t an exit:
https://www.barrons.com/articles/softbank-openai-nvidia-stake-ai-5036b58b?mod=bar_RHF
Jesus Christ that’s a bad idea.
Nvidia over here selling marked-up shovels by the barrow-ful, but I’m gonna invest it all in Sammy finding that huge nugget.
″[SoftBank] made a point of saying that it wasn’t any view on NVIDIA… At the end of the day, they are using the money to invest in other AI related companies,” he said
Important bit of info for people who are just seeing the title :(
Read on; they’re investing in openAI instead.
Bullish news for nVidia? Softbank’s investment decisions sometimes seem to rival Jim Cramer’s advice…
Oh, this is absolutely full grade Softbank insanity.
They’re selling their stake in Nvidia… to go all in on OpenAI.
You can’t make this shit up. They’re so bullish on AI that they decided to sell their stake in the only company actually guaranteed to make money on this bullshit in order to throw it into Sam Altman’s money pit.
How Masayoshi Son still has money is completely beyond me at this point.
They did the same in 2019 (note the date on the article)
https://www.cnbc.com/2019/02/06/softbank-vision-fund-sells-nvidia-stake.html
don’t blame them, tbh
