SoftBank Group shares fell as much as 10% Wednesday after the company said it sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion, as the Japanese giant looks to capitalize on its “all in” bet on ChatGPT maker OpenAI.
Shares of SoftBank closed 3.46% lower at 21,910.
In its earnings report, SoftBank said it sold 32.1 million Nvidia shares in October, and also trimmed its T-Mobile position, raising $9.17 billion.
Asia-Pacific markets mostly rose Wednesday, after Wall Street traded mixed on hopes that the record-setting U.S. government shutdown could be nearing an end and AI trade stumbling.
Japan’s benchmark Nikkei 225
Australia’s S&P/ASX 200
Hong Kong’s Hang Seng Index
India’s Nifty 50 added 0.83%.
Shares of Billionbrains Garage Ventures, the parent company of Indian online brokerage Groww, surged 20% in its market debut on Wednesday. The firm had raised 66.3 billion rupees (about $748 million) in its IPO.
Taiwan’s Taiex inched 0.58% higher to 27,947.09.
Foxconn, the world’s largest contract electronics maker and Nvidia supplier, said Wednesday that its third-quarter profit jumped 17% from a year earlier, driven by growth in its artificial intelligence server business.
Overnight in the U.S., the three major averages closed mixed. The Dow Jones Industrial Average rallied to a fresh closing record Tuesday, while the Nasdaq Composite struggled as investors moved money away from technology stocks into other parts of the market that traded at lower valuations.
The 30-stock Dow rose 559.33 points, or 1.18%, to close at 47,927.96, with those on Wall Street buying up shares of various blue-chip names, including health care giants Merck, Amgen and Johnson & Johnson. The S&P 500 also rose 0.21% to finish at 6,846.61. However, the tech-heavy Nasdaq lost 0.25% to settle at 23,468.30.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
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