SoftBank drops stake in NVIDIA
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Japanese tech giant SoftBank's shares slumped 6.6% Friday driven by the firm's sale all of its stake in the US chip giant Nvidia for $5.83 billion announced on Tuesday, and an overall concern regarding the overvaluation in the tech stocks.
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Nvidia now worth more than Japan’s entire economy — just 30,000 employees vs 124 million people
Nvidia's market value has soared to nearly $5 trillion, eclipsing Japan's entire annual economic output. This AI chip giant's valuation now rivals Germany's economy, reflecting immense investor confidence in artificial intelligence.