SoftBank’s Son ‘was crying’ about the firm's need to sell its Nvidia stake

Core Viewpoint - SoftBank Group's decision to sell its entire stake in Nvidia for $5.83 billion is primarily driven by the need to fund its investments in artificial intelligence, particularly in OpenAI and data center projects, despite the emotional toll of the sale on CEO Masayoshi Son [1][2][3]. Group 1: Financial Moves - SoftBank sold its Nvidia shares for $5.83 billion to finance upcoming AI investments [2]. - The sale is part of a broader strategy to enhance the SoftBank Vision Fund's resources for AI initiatives [3]. - SoftBank's second-quarter net profit more than doubled to 2.5 trillion yen ($16.6 billion), largely due to valuation gains from its OpenAI investments [5]. Group 2: AI Investment Strategy - SoftBank has intensified its focus on AI with various projects, including the Stargate Project data centers and the acquisition of Ampere Computing [4]. - The company is considering increasing its investment in OpenAI based on the performance and valuation of the AI startup [4]. - Son has expressed strong confidence in OpenAI, predicting it could become the most valuable company globally [5]. Group 3: Market Perspectives - Son dismissed concerns about an AI bubble, suggesting that critics lack understanding of the technology's potential [6]. - He forecasts that super artificial intelligence and AI robots could contribute at least 10% to global GDP in the long term, outweighing the investments made in the sector [6].