TOKYO – In a strategic financial move, SoftBank Group Corp., a major player in the tech world, announced the sale of its entire stake in Nvidia Corp. This divestment, completed in October, brought in a substantial $5.83 billion for the Tokyo-headquartered conglomerate. This comes as SoftBank reports a significant upturn in profitability for the first half of the fiscal year, surpassing expectations.

The tech giant, known for its diverse investment portfolio, revealed that its profits from April to September nearly tripled compared to the same period last year. Sales during these six months saw a modest growth of 7.7%, reaching 3.7 trillion yen, equivalent to $24 billion.

SoftBank’s financial performance is often unpredictable due to its varied investment endeavors, particularly those made through its Vision Funds. However, a company representative highlighted that their recent investments in OpenAI have been particularly rewarding, contributing to this financial success.

Masayoshi Son, the visionary behind SoftBank, has been steering the company towards the expansive opportunities presented by artificial intelligence, underscoring his commitment to this transformative technology.

The group’s founder, Masayoshi Son, has recently focused ambitiously on the potential of AI.

SoftBank has also invested in Arm Holdings and Taiwan Semiconductor Manufacturing Co. Both companies, which produce computer chips, have benefitted from the growth of AI.

SoftBank stocks, which have surged over the past year to about double what they were worth, added nearly 2% Tuesday.