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Nvidia Shares Dip as SoftBank Unloads Holdings to Fund OpenAI Investments

Shares of Nvidia tumbled about 3 percent to around $193. This year, the stock has soared nearly 40 percent.
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Nvidia Shares Dip as SoftBank Unloads Holdings to Fund OpenAI Investments
People walk in front of a branch of Japan's telecoms giant SoftBank in Tokyo, Japan, on Nov. 23, 2018. Kazuhiro Nogi/AFP/Getty Images
Andrew Moran
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Shares of artificial intelligence (AI) chipmaker Nvidia sank about 3 percent after Japan’s SoftBank sold its entire stake in the company to bankroll its investments in ChatGPT developer OpenAI.

In its quarterly earnings results on Nov. 11, the Japanese investment holding giant disclosed that it sold 32.1 million Nvidia shares in October, totaling $5.83 billion.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."