Addressing the November disclosure that SoftBank had completely unloaded its shares worth $5.83 billion in the world’s most valuable chipmaker, Son expressed deep regret, figuratively admitting he ‘cried’ when he sold shares of the biggest tech company in terms of market cap. Masayoshi Son, SoftBank Group CEO, has revealed that the company’s decision to sell its substantial stake in Nvidia was a painful, though necessary, step taken to fund its aggressive new investments in artificial intelligence (AI), including a major commitment to OpenAI .
Son’s comments clarified that SoftBank needed immediate capital and selling was driven by a string of expansive AI projects. These projects include construction of a massive Stargate data centre in partnership with Hon Hai Precision Industry Co. (commonly known as Foxconn), the acquisition of US chip designer Ampere Computing, and accelerated plans to increase investment in OpenAI by the end of the year. The ‘cry’ comment brought back a year-old memory about the conversation between Nvidia CEO Jensen Huang and Son. During Huang’s visit to Japan last November, he publicly ‘teased’ Son over his past investment timing.