SoftBank shares plunge over 8%, extending selloff into third day
SoftBank’s logo is displayed at a company store in Tokyo, Japan, on January 28, 2025.
Issei Kato | Reuters
shares SoftBank Group It fell more than 8% on Friday, its third consecutive day of sales, after the Japanese giant announced that it had sold its entire stake in US chip giant Nvidia for $5.83 billion.
SoftBank announced in its latest earnings that it divested 32.1 million Nvidia shares in October and reduced its T-Mobile shares, generating $9.17 billion in revenue.
Although Nvidia’s sale surprised some investors, it is not SoftBank’s first exit from the US chip giant. The Vision Fund accumulated nearly $4 billion worth of Nvidia shares in 2017 before selling out entirely in early 2019.
Despite this, SoftBank’s business ties with Nvidia continue. The Tokyo-based company is involved in a number of artificial intelligence initiatives using Nvidia’s technology, including the $500 billion Stargate project for data centers in the United States.
Some other technology stocks in the region also fell. Semiconductor test equipment maker Advantest and chip manufacturing equipment maker Tokyo Electron fell more than 3% and 4%, respectively.
Overnight, tech giants in the US were left battered. Nvidia and Broadcom fell 3.6% and 4.3%, respectively, while Google parent Alphabet fell 2.8%.
