SoftBank’s Son Says He ‘Was Crying’ Over NVIDIA Stake Sale, But Needed Cash to Fund OpenAI

SoftBank founder Masayoshi Son said he was emotional about parting with the company’s entire NVIDIA stake, but insisted the sale was unavoidable as the group accelerates its push into AI.

Speaking at the FII Priority Asia forum in Tokyo on Monday, Son addressed SoftBank’s November disclosure that it had sold its NVIDIA shares for $5.83 billion. The tech billionaire said the decision wasn’t driven by doubts about the chipmaker but by SoftBank’s need to finance major new AI projects.

“I don’t want to sell a single share. I just had more need for money to invest in OpenAI and other projects,” Son said. “I was crying to sell NVIDIA shares.”

SoftBank has spent the year ramping up its AI ambitions, pouring resources into initiatives including the massive Stargate Project data centres and the acquisition of US chip designer Ampere Computing. 

The company is also preparing to expand its backing of OpenAI, with a potential increase depending on the startup’s performance and valuation in future funding rounds, a person familiar with the discussions previously told CNBC.

Son has repeatedly positioned OpenAI at the centre of SoftBank’s next phase, declaring earlier this year that the group is “all in” on the ChatGPT maker and predicting it could eventually become the world’s most valuable company. 

That conviction has already delivered financial returns. SoftBank reported that second-quarter net profit more than doubled to 2.5 trillion yen ($16.6 billion), supported by gains tied to its OpenAI stake.

The company’s aggressive posture comes as investors debate whether the AI sector is overheating. Son dismissed those concerns on Monday, saying people warning of an AI bubble are “not smart enough.” 

He argued that advancements in “super [artificial] intelligence” and robotics will eventually create at least 10% of global GDP, easily justifying the trillions of dollars currently flowing into the technology.

Despite selling NVIDIA, now one of the world’s most valuable semiconductor firms, Son made clear that the move was purely strategic. SoftBank, he suggested, is reallocating capital not away from AI, but deeper into it.

The post SoftBank’s Son Says He ‘Was Crying’ Over NVIDIA Stake Sale, But Needed Cash to Fund OpenAI appeared first on Analytics India Magazine.