Shuli Ren, Columnist

The Nasdaq Whale’s Nvidia Sale Smells Desperate

November 12, 2025 at 7:00 PM UTC

Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. A former investment banker, she was a markets reporter for Barron’s. She is a CFA charterholder.

Masayoshi Son is raising cash for AI.
Photographer: Kiyoshi Ota/Bloomberg

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Masayoshi Son, who runs the world's biggest venture capital fund, is making waves again.

His SoftBank Group Corp. has sold its entire stake in Nvidia Corp. for $5.8 billion, renewing concerns that tech valuations have become frothy. This transaction marks a sharp U-turn for Son. As recently as the March quarter, SoftBank was busy buying up the AI chip designer’s shares. Nvidia’s stock has risen 44% this year and is now trading at a 42 times earnings, versus around 35 times a year ago.