Shares in SoftBank Group fell as much as 10% on Wednesday after the firm said it had sold its entire stake in US chipmaker Nvidia for $5.83 billion, as the Japanese giant looks to capitalize on its “all-in” bet on ChatGPT maker OpenAI
In its earnings report, SoftBank said it sold 32.1 million Nvidia shares in October and also reduced its position in T-Mobile, raising $9.17 billion.
Asia-Pacific markets were mostly higher on Wednesday, after Wall Street traded mixed on hopes that a record U.S. government shutdown could end and artificial intelligence trading faltered.
Japan’s benchmark Nikkei 225 index fell 0.26%, while the Topix added 0.35%. South Korea’s Kospi was unchanged, while the small-cap Kosdaq added 0.62%, SEEbiz reports.
Australia’s S&P/ASX 200 rose 0.13%.
Hong Kong’s Hang Seng index added 0.25%, while the mainland’s CSI 300 was unchanged.
India’s Nifty 50 added 0.69%.
Shares of Billionbrains Garage Ventures, the parent firm of Indian online broker Groww, rose 20% in their market debut on Wednesday. The firm raised 66.3 billion rupees (about $748 million) in its initial public offering.
Investors will be closely watching SoftBank shares as well as tech stocks in Asia after the Japanese giant said on Tuesday it had sold its entire stake in US chipmaker Nvidia for $5.83 billion as it seeks to capitalize on its all-in bet on OpenAI, maker of ChatGPT.
