SoftBank has made a profit and has completely divested from his Nvidia sharesThe transaction, executed in October, amounts to $5.830 billion and involves the sale of 32,1 million shares of the leading artificial intelligence chipmaker.
From Tokyo they insist that it is a financial decision, not a signal against NvidiaThe official message: to mobilize capital for new large-scale investments in the AI ecosystem, an area in which SoftBank wants to play a leading role.
The essentials of the operation
The company confirmed the complete divestment to its investors after closing the sale for 5.830 millionThe move comes after a year of meteoric rises in the stock price, and a previous session in which Nvidia advanced strongly, contributing much of the boost to the S&P 500.
After the news broke, Nvidia's stock prices fell by around 1,6% in the pre-openingHowever, this adjustment coincides with very substantial price increases in recent quarters. The fund managers consulted interpret it as profit-taking in an asset that... despite the timely correction, maintains its dominant trend in data centers and AI.
SoftBank's motives and strategy
Chief Financial Officer Yoshimitsu Goto avoided fueling bubble debates and stressed that the sale was made to allocate capital to new investmentsIn his words, the priority is to strengthen solvency and offer more opportunities to investors, in line with the strategy of "monetizing some positions and opening others."
Analysts like Rolf Bulk (New Street Research) contextualize the operation: SoftBank It needs at least $30.500 billion in the October-December quarter, primarily due to its contribution to OpenAI (22.500 billion) and the acquisition of chip designer Ampere (6.500 billion). The prevailing view is not one of caution regarding Nvidia. but rather capital reallocation towards AI projects where SoftBank sees more potential return.
Market reaction and analysts' views
The withdrawal of a major investor usually generates headlines, but the market consensus on Nvidia remains favorable: most research firms They maintain their purchase recommendation. and they see additional growth supported by their position in GPUs and AI software.
For SoftBank, however, the focus is on the fact that “the risk of not investing"In the new wave of artificial intelligence, the risk may be greater than the risk of doing so. Voices like Dan Baker (Morningstar) emphasize that the divestment "doesn't change SoftBank's thesis" and that the money It is being relocated to other growth drivers linked to AI.
What will it do with the cash: OpenAI, Ampere, and the Stargate project
Much of the released capital is earmarked for OpenAI, where SoftBank has committed up to 40.000 million in different phases, with €22.500 billion earmarked for the end of December. The plan also includes the project of mega data centers Stargate, key infrastructure to train and deploy large-scale models.
Meanwhile, SoftBank is moving forward with the purchase of Ampere Computing for around 6.500 milliona strategic asset in chip design. The roadmap is completed with the “monetization” of other positions—for example, the partial sale of T-Mobile for approximately $9.170 billion—and with debt issuances and bridge loans for optimize financing.
Background and sales schedule
This isn't the first time SoftBank has left Nvidia. It did so in 2019 and returned in 2020. before the big spike associated with ChatGPT and the boom in demand for AI accelerators. By the end of March, its stake in Nvidia was around $3.000 billion, benefiting from the subsequent surge.
The current divestment coincides with a growing debate about whether the spending by big tech companies—which could reach record levels in the coming years—will yield commensurate returns. In this context, SoftBank's capital allocation It focuses on its own models, software and infrastructure, rather than exposure to third-party hardware.
Implications for investors in Spain and Europe
For the European investor, Investing in new technologies in Europe It leaves several clues: the flow of capital towards AI does not stop, but it becomes more selective in the value chainFunds and managers with positions in semiconductors, cloud, and AI software may see tactical rotations, without that implying a structural bearish turn.
In Spain, vehicles with exposure to US technology companies—directly or via global indices—could experience some short-term volatility, while the narrative of “investment in models and platforms” versus “picks and shovels” is consolidating. The European presence in chip design (via Arm, based in the UK, although listed in the US) and in infrastructure providers adds another vector of interest for the region.
Results, Vision Fund and stock split
Financially, SoftBank has seen a strong boost in its accounts. The Vision Fund recorded investment gains of nearly $19.000 billion in the quarter, supported by the revaluation of AI-related assets, including OpenAI.
The group has more than doubled its profit in the recent period and places the result for the first fiscal half at around 16.600 millionIn addition, it announced a stock split (4 for 1) to make the stock more accessible and broaden its investor base, a move that is usually improve liquidity of the value in the local market.
SoftBank's portfolio includes names like OpenAI, Ampere, ByteDance, and Perplexity AI, signaling a thesis that it attempts to capture value across the entire AI chain, from the modeling and software layer to key pieces of chip design and high-performance computing.
With Nvidia's exit, softBank strengthens its liquidity position to execute its AI agenda: Secured financing, rotated assets, and clear prioritiesTime will tell if the emphasis on models and platforms outweighs the return on investment for exposure to market-leading hardware, but for now, Son and his team's roadmap points to focus, scale, and speed of execution.
