SoftBank transfers its $5B stake in Nvidia to the Vision Fund
Summary
SoftBank has confirmed that its 4.9 percent stake in Nvidia is to be transferred to the Vision Fund, its colossal investment vehicle that’s targeting a $100 billion final close. Previously, Softbank sold one-quarter of ARM, the chip giant it acquired last year for north of $30 billion, to the Vision Fund. Addressing investors and press at a Q1 earnings event, Son dedicated plenty of time to explaining the Vision Fund which, as he himself admitted, is quite like any other VC investment vehicle in tech today. Beyond its sheer size, he said that the fund is about developing a group of the world’s best companies to capitalize on the coming “information revolution.” Son explained that neither SoftBank nor the fund will look to take majority ownership in companies or invest strictly for profit, rather the goal is to develop a portfolio of top tech firms that can explore partnerships and synergies to grow together. SoftBank is already the majority investor in Didi Chuxing (China), Ola (India), Grab (Southeast Asia) and 99 (Latin America).
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