Masayoshi Son’s SoftBank Group has sold its entire stake in Nvidia for $5.8bn and said net profit more than doubled in its second quarter as the Japanese group prepares for a wave of investments in artificial intelligence.
Net profit at the AI-invested company was ¥2.5tn ($16.2bn) in the quarter to the end of September, far above analysts’ expectations of ¥207bn, according to LSEG data and the ¥1.2tn recorded in the same period last year.
The company said it sold 32mn Nvidia shares last month for $5.8bn, as well as some of its stake in T-Mobile for $9.2bn.
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