CNBC: Tech SoftBank posts blowout quarterly gains at Vision Fund tech arm
CNBC reports: Japanese giant SoftBank logged a 608.5 billion yen ($3.96 billion) gain on its Vision ...
SEEKING ALPHA reports:
SoftBank Group (OTCPK:SFTBY) founder Masayoshi Son regrets selling Nvidia (NASDAQ:NVDA) shares five years ago, before the chip giant rode the artificial intelligence wave to become one of the world’s most valuable companies.
Son, who has made some of the most successful tech investments in recent times, at SoftBank’s (OTCPK:SFTBY) annual shareholder meeting said it’s “frustrating to remember the ones I missed,” as quoted by the Wall Street Journal.
The company’s Vision Fund sold its entire 4.9% stake in Nvidia (NVDA) in early 2019, recording a return of $3.3B. “I had to tearfully sell the shares,” he said, as the venture capital fund felt it was time to cash out. “The fish that got away was big.”
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