Japan’s Softbank has always made strategic investments in the technology industry. Earlier this morning they shocked Silicon Valley by announcing the sale of its entire NVIDIA shareholding, valued on December 31 at JYP 39.8 billion, or $3.6 billion in the US.
This news comes at a pretty bad time for NVIDIA, with the company losing over 50% value in the wake of the crypto-currency fall, mediocre demand for RTX 20-series graphics cards, and “deteriorating economic conditions in China”. NVIDIA also trimmed their outlook for revenue from gaming hardware sales by $500 million, cutting down their share value even more. It seems as if Softbank felt it was time to let go of NVIDIA, their tech portfolio now includes ARM Holdings, Uber, WeWork, Slack, among dozens of other tech startups.
Via Tom’s Hardware