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Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks at the SoftBank World event in Tokyo, Japan, on Wednesday, July 16, 2025. Speaking via teleconference, Son and OpenAI chief Sam Altman argued that advancing artificial intelligence would lead to new jobs that are not yet imagined, and the advancement of robotics will help kick‑start a “self‑improvement” loop. Photographer: Kiyoshi Ota/Bloomberg via Getty Images
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SoftBank Group founder Masayoshi Son on Monday downplayed the decision to offload the conglomerate’s entire Nvidia stake, saying he “was crying” over parting with the shares.
Speaking at a forum in Tokyo on Monday, Son addressed SoftBank’s November disclosure that the firm had sold its holding in the American chip darling for $5.83 billion.
According to Son, SoftBank would not have made the move unless it needed capital to bankroll its next wave of artificial‑intelligence investments, including a sizeable bet on OpenAI and a series of data‑center 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 told attendees at the FII Priority Asia forum. “I was crying to sell Nvidia shares.”
His remarks echo analysts who described the sale as part of a broader effort to fortify the SoftBank Vision Fund’s AI war chest.
SoftBank has doubled down on its AI agenda this year with a suite of initiatives: the Stargate Project data‑center rollout, the acquisition of U.S. chip designer Ampere Computing, and an expanding partnership with OpenAI that could see additional equity injections dependent on performance and future valuations.
Earlier this year, Son proclaimed that SoftBank was “all in” on OpenAI and predicted the startup would eventually become the world’s most valuable company. The gamble has begun to pay off—SoftBank reported second‑quarter net profit of 2.5 trillion yen (≈ $16.6 billion), driven largely by valuation gains in its OpenAI holdings.
Nevertheless, the firm’s aggressive AI positioning arrives amid growing market jitters about a potential AI bubble. In response, Son dismissed such concerns, arguing that skeptics “are not smart enough” to grasp the long‑term transformative power of artificial intelligence.
He projected that “super‑intelligence” and AI‑enabled robotics could eventually generate at least 10 % of global gross domestic product, a contribution that would dwarf the trillions of dollars currently being poured into the sector.
Strategic Implications for SoftBank
SoftBank’s divestment from Nvidia illustrates a classic portfolio rebalancing tactic: liquidate mature, high‑valuation assets to free up capital for next‑generation opportunities. The $5.83 billion proceeds not only fund OpenAI stakes but also underpin the capital‑intensive infrastructure required for AI compute—data centres, custom ASIC development, and edge‑computing platforms.
From a valuation perspective, SoftBank’s exposure to OpenAI offers asymmetric upside. While the market currently prices OpenAI at a premium relative to traditional software firms, the company’s trajectory—expanding from large‑language models to multimodal agents and enterprise AI services—could justify a multi‑hundred‑billion‑dollar market cap. SoftBank’s willingness to increase its investment contingent on performance signals confidence in OpenAI’s ability to monetize its technology stack across sectors such as finance, healthcare, and autonomous systems.
Broader AI Market Dynamics
The AI arms race is reshaping capital allocation across the technology ecosystem. Venture capital and sovereign wealth funds are flocking to companies that can deliver next‑generation compute power, from custom silicon (e.g., Ampere’s ARM‑based processors) to specialized cooling solutions for large‑scale data centres. By securing a foothold in both the chip supply chain and AI model development, SoftBank positions itself as a vertical integrator capable of capturing value at multiple points in the AI value chain.
Analysts caution that the sector remains highly speculative, with valuation multiples far exceeding historical averages for comparable technology assets. However, they also note that the capital intensity of AI—requiring massive upfront investment in compute infrastructure—creates high barriers to entry, potentially limiting supply and sustaining premium pricing for well‑capitalized players like SoftBank.
Outlook
Looking ahead, SoftBank’s strategy hinges on three interdependent variables: the pace of OpenAI’s product rollout, the cost trajectory of AI‑focused hardware, and regulatory developments surrounding data privacy and AI ethics. Successful navigation of these factors could enable SoftBank to not only recoup its Nvidia proceeds but also generate outsized returns that validate its “all‑in” stance on artificial intelligence.
In the meantime, Son’s emotional candor—crying over sold shares—humanizes a high‑stakes financial maneuver and underscores the personal conviction driving SoftBank’s AI crusade. As the market watches, the next chapter of SoftBank’s AI journey will likely be defined by how effectively it can translate massive compute investments into sustainable, revenue‑generating AI applications.
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