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Companies

SoftBank plans to unload Nvidia stake

Japanese conglomerate stands to make $3bn on sale

Nvidia graphics cards at a store in California.   © Reuters

PALO ALTO, U.S. -- SoftBank Group is considering selling its stake in Nvidia early next year as the California-based graphics processor company's stock price continues to decline, Bloomberg reported Tuesday, citing unidentified sources.

According to the report, SoftBank could pocket $3 billion from the share sale. But no final decision has been made, and the Japanese company could hang on to its interest or sell only part of it.

SoftBank became Nvidia's fourth-largest shareholder in early 2017. Its holdings were later transferred to the SoftBank Vision Fund, set up with Saudi Arabia.

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