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International Business Times UK
International Business Times UK
Tanmay Puri

SoftBank Dumps £4.7 Billion Nvidia Stake To Double Down On ChatGPT Maker OpenAI

Artificial intelligence drives SoftBank’s £17.8 billion pivot from Nvidia to ChatGPT maker OpenAI (Credit: AFP News)

The tech world has just felt a seismic jolt. In a bold move that's reverberating across artificial intelligence and investment circles, SoftBank Group has announced the sale of its entire stake in Nvidia Corporation, the leading chipmaker that powers much of today's AI infrastructure. The Japanese conglomerate raised approximately $5.83 billion (£4.7 billion) by offloading its 32.1 million shares in October. The capital is now being directed toward a major bet on OpenAI, the creator of ChatGPT and the big prospect in the AI space.

Why SoftBank Sold Nvidia Shares

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