In a rare display of emotion, SoftBank Group's founder Masayoshi Son confessed to shedding tears over a major financial decision. The Japanese billionaire revealed he was crying when he sold his company's entire stake in the skyrocketing chipmaker Nvidia, a move driven purely by a strategic need for capital to fuel his ambitious artificial intelligence investments.
The Emotional Exit from a Golden Goose
Speaking at the FII Priority Asia forum in Tokyo on Monday, Son addressed the November disclosure that SoftBank had sold its full Nvidia holding for a staggering $5.83 billion. He stressed that the decision was not born from a lack of confidence in Nvidia's future but from an urgent need for liquidity. "I don't want to sell a single share. I just had more need for money to invest in OpenAI and other projects," Son stated, as reported by CNBC. He poignantly added, "I was crying to sell Nvidia shares."
This candid admission underscores the internal conflict faced by Japan's second-richest man. He made it clear that the shares would have been held indefinitely if SoftBank did not require the funds. The sale was part of a broader effort to bolster the cash resources of the SoftBank Vision Fund, specifically earmarked for a massive push into AI.
SoftBank's "All In" Bet on Artificial Intelligence
Son's strategy marks a decisive pivot. SoftBank has intensified its focus on AI this year through a series of high-profile projects. These include plans for the Stargate Project data centres and the acquisition of US chip designer Ampere Computing. However, the centrepiece of this strategy is a substantial bet on OpenAI, the creator of ChatGPT.
Earlier this year, Son declared that SoftBank was "all in" on OpenAI, predicting it would one day become the world's most valuable company. This bet is already paying dividends. Last month, SoftBank reported that its second-quarter net profit more than doubled to 2.5 trillion yen ($16.6 billion), driven significantly by valuation gains from its OpenAI holdings.
According to a source familiar with the matter who spoke to CNBC, SoftBank could "potentially" increase its investment in OpenAI further, depending on performance and valuation in future funding rounds.
Pushing Back Against the AI Bubble Narrative
The massive scale of investment flowing into AI has sparked widespread market concern about a potential technology bubble. Son directly challenged this scepticism during his Tokyo speech. He argued that critics underestimating the sector are "not smart enough."
Looking far into the future, Son predicted that "super artificial intelligence" and AI robots would generate at least 10% of global GDP in the long term. He believes this monumental economic output will far outweigh the trillions of dollars being invested in the technology today, framing current expenditures as essential groundwork for a transformed world.
Son's tearful exit from Nvidia, therefore, is not a story of regret but one of ruthless prioritisation. It symbolises a calculated sacrifice of a proven winner to bankroll what he believes is the ultimate future—a future dominated by artificial intelligence, with SoftBank positioned firmly at its forefront.
