SoftBank sold its stake in Nvidia and is all in on OpenAI. Here's what else we learned about the AI race in its earnings call.

SoftBank has been making waves in the investment world and has become one of the most significant financial beneficiaries of the current AI boom. Its Vision Fund reported a gain of ¥3.5 trillion in investments, much of which resulted from its OpenAI holdings, and is now estimated to total ¥2.16 trillion for the quarter.

SoftBank's joint venture with OpenAI will localize and sell the AI company's enterprise tech to companies in Japan. And the first customer of this joint venture is going to be SoftBank itself.

The unequivocal high for SoftBank was its $20 million Alibaba investment, made in 2000. It paid off huge, blossoming into a $60 billion stake by 2014, a roughly 3,000-times return. The Cowboys also reached the peak of the pro football mountain in the 90s, winning the Super Bowl three times between 1992 and 1995.

Softbank has unveiled plans to continue pushing into AI with investments in PayPay, ChatGPT, and OpenAI, helping it gain $19 billion on its Vision Fund in Q2.

SoftBank Group reported a sharp rise in profit for fiscal Q2 2024, ending September 30, with net income surging to $16.2 billion.

Nvidia is out. OpenAI is in. Does that make sense?

SoftBank posts ¥2.5 trillion quarterly profit on soaring Vision Fund gains from OpenAI, even as it sells stake in Nvidia, and investors grow wary of an emerging AI bubble.