Nvidia Shares Dip as SoftBank Unloads Holdings to Fund OpenAI Investments

Date:

People walk in front of a branch of Japan’s telecoms giant SoftBank in Tokyo, Japan, on Nov. 23, 2018. Kazuhiro Nogi/AFP/Getty ImagesShares of artificial intelligence (AI) chipmaker Nvidia sank about 3 percent after Japan’s SoftBank sold its entire stake in the company to bankroll its investments in ChatGPT developer OpenAI.In its quarterly earnings results on Nov. 11, the Japanese investment holding giant disclosed that it sold 32.1 million Nvidia shares in October, totaling $5.83 billion.

spot_imgspot_imgspot_img

Share post:

More like this
Related

Real Investment Coming, Trade Adviser Says as US Manufacturing Grows for 5th Straight Month

Trump is prioritizing heavy industries such as aerospace, automotive,...

BlackRock, Fidelity May Be Replaced as Managers of New York City Pension Funds

The midtown Manhattan skyline is pictured from the top...

Indiana Tops Housing Affordability Report Card While New York Ranks Last: Realtor

A home for sale in a Brooklyn neighborhood in...

Bank of Japan Raises Interest Rates to Highest Level Since 1995

A passerby walks past the Bank of Japan headquarters...