SoftBank's CEO admits to difficulty in dumping Nvidia for OpenAI in October

SoftBank Group’s billionaire chief Masayoshi Son finally broke his silence Monday about his company’s decision to dump its entire holdings in Nvidia, the world’s top chipmaker. Speaking at a business conference in Tokyo, the 68-year-old executive made it clear: he didn’t want to let go of even one share, but needed cash for bigger plans. “I was crying to sell Nvidia shares,” Son told attendees at the FII Priority Asia forum. The reason? SoftBank needed money to pour into OpenAI and several other artificial intelligence ventures, including building massive data centers. Son took direct aim at critics who claim too much money is flowing into AI, as quoted by Bloomberg. He called such people “not smart enough” and defended the spending spree. According to his math, if AI eventually captures just 10% of the world’s total economic output down the road, even trillions spent now would pay off. “Where is...

https://www.cryptopolitan.com/softbank-son-selling-nvidia-to-fund-openai/