SoftBank founder: I cried when I sold Nvidia shares

Masayoshi Son, the founder of SoftBank Group Corp., said he sold shares. Nvidia Corp. solely due to the need for funds for new investments in artificial intelligence, particularly in OpenAI, calling this decision a difficult one for them. This was reported by Bloomberg.

Commenting for the first time on the information about the sale of SoftBank's entire stake in the world's most valuable company, Son explained that the Japanese corporation simply needed to raise capital to finance large-scale projects, including the construction of data centers.

"I don't want to sell any shares. I just needed more money to invest in OpenAI and other projects. I cried to sell Nvidia shares," Son said during the FII Priority Asia forum in Tokyo on Monday, March 1.

SoftBank is significantly increasing its investments in artificial intelligence: the company is implementing a large-scale Stargate data center project in collaboration with Hon Hai Precision Industry Co., has acquired the American chip manufacturer Ampere Computing LLC, and plans to increase its investment in OpenAI by the end of the year.

The head of SoftBank criticized skeptics who talk about an investment bubble in the field of artificial intelligence. According to him, such people are "not smart enough."

In his opinion, if artificial intelligence can eventually generate 10% of the world's GDP, then even multi-trillion dollar expenditures will be fully justified.

• On November 11, it became known that the Japanese technology giant SoftBank sold their share in Nvidia for $5.8 billion, redirecting the focus to investments in OpenAI and other artificial intelligence projects.