Coinspeaker
11 hour ago
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AI Tokens Plummet Following SoftBank’s NVIDIA Stake Sale

AI tokens are experiencing significant selling pressure after SoftBank sold its NVIDIA stake to invest up to $40 billion in OpenAI. This shift occurs amid Wall Street's scrutiny of AI spending profitability.

SoftBank's Strategic Moves

  • SoftBank offloaded its 32.1 million-share NVIDIA position for $5.83 billion, marking the second exit from the AI chipmaker.
  • The Japanese firm plans to redirect its capital to OpenAI, with a $1.5 billion purchase offer for OpenAI shares at $210 per share.
  • This investment follows a $9.17 billion partial sale of its T-Mobile stake as part of funding for OpenAI.

Market Impact and Legal Scrutiny

  • OpenAI CEO Sam Altman faces legal scrutiny over federal loan guarantees for AI infrastructure.
  • NVIDIA's sale coincides with doubts about AI infrastructure spending profitability.
  • AI tokens such as Bittensor and Internet Computer have dropped by 3.79% and 8.69%, respectively.
  • The broader crypto market also declined by 1.4%.