No. of Recommendations: 0
Softbank sold all it's Nvidia shares. This is especially interesting as Softbank invested heavily in AI and continues to do so. Doesn't bode well for Nvidia though.
No. of Recommendations: 2
Asked at the end of a call for SoftBank’s motivation in selling Nvidia, chief financial officer Yoshimitsu Goto implied that the money was needed, and better utilized, by funding further investment in ChatGPT maker OpenAI.
“We don’t have any specific meaning in October or it’s nothing to do with Nvidia itself,” he said.
Goto was also asked about whether AI stocks were in a bubble. “I don’t think I can answer whether this is a bubble or not” but he followed up by declaring “the risk is bigger if you don’t invest.”
While I have recently sold off another 10% of my overall stock portfolio: most of the financial stock except USB and SAN (which I have owned since 2000 and which has treated me rather well in the interim), Nokia and QQQE. Nothing wrong with the sold-off issues, just trimming equities as I am becoming concerned about getting closer to choppy seas.
Jeff
(Disclosure: While I have a position in Nvidia (bought rather late in the game), I have a much larger holding of Softbank (acquired over a decade ago).
No. of Recommendations: 2
My recollection is that last time Softbank sold its NVDA stake in 2019 or something, NVDA went up 50x afterwards.
I'm holding NVDA myself, so I hope NVDA stock responds the same way as last time. Just what we need, a $200 Trillion market cap!
(not holding my breath),
R:)
