
SoftBank (OTCPK:SFTBY) just made one of the boldest trades in the AI era — selling $5.8 billion worth of Nvidia Corp (NASDAQ:NVDA) shares to fund a $22.5 billion commitment to OpenAI. On paper, it looks like Masayoshi Son is ditching the shovel-maker in the middle of a gold rush.
But this may be less a call on Nvidia's ceiling and more a bet that the next big AI boom won't be in GPUs — it'll be in the software that runs on them.