SOFTBANK RAISES STAKE IN AMAZON TO $1.2B
SoftBank Group Corp. has built a stake worth around $1.2 billion in e-commerce firm Amazon, regulatory filings showed on Monday, as the tech conglomerate expands its investing activities beyond its recent focus on unlisted startups, Sam Nussey reported for Reuters on August 18, 2020.
Chief Executive Masayoshi Son last week announced a new investment management subsidiary that would park excess cash from a massive asset sale program in liquid stocks. SoftBank has spent around $10 billion buying shares.
In addition to Amazon, the group has built stakes in Netflix Inc., Tesla Inc., Microsoft Corp. and Alphabet Inc., filings showed.
SoftBank also disclosed a stake in chip supplier Nvidia Corp. worth around $220 million based on Friday’s closing price. It exited its stake in the firm last year. SoftBank is currently in talks with Nvidia over a possible sale of chip designer Arm, media have reported. The group is pivoting towards investing outside the $100 billion Vision Fund with its focus on unlisted, late stage startups. The fund has buffeted the group’s earnings as the value of its holdings has fallen below acquisition price.