SFTBY News & Events

SoftBank plans to invest up to $3B to remodel an EV plant in Lordstown, Ohio, that will produce equipment for OpenAI's upcoming U.S. data centers, The Information's Sri Muppidi reports.

The U.S. Federal Trade Commission, FTC, granted an early termination of its review of Softbank's acquisition of Ampere Computing, Josh Sisco of Bloomberg reports. The FTC's decision to end its review process early removes an obstacle for the $6.5B deal.

SoftBank Group (SFTBY) disclosed when reporting Q3 earnings that it sold its entire holdings in Nvidia (NVDA) for $5.8B in October. SoftBank held 32.1M shares of Nvidia. "I can't say if we're in an AI bubble or not," SoftBank CFO Yoshimitsu Goto said during an earnings conference call. SoftBank sold Nvidia "so that the capital can be utilized for our financing," he added.

SoftBank Group (SFTBY) weighed a potential takeover of Marvell (MRVL) earlier this year, Bloomberg's Ryan Gould, Min-Jeong Lee, Liana Baker, and Dinesh Nair report. According to people familiar with the matter, SoftBank founder Masayoshi Son has been studying Marvell as a possible target on and off for years, as part of his efforts to bet on hardware that can benefit from the artificial intelligence boom. SoftBank made overtures to Marvell several months ago, but the two sides couldn't reach an agreement on terms, the people say. SoftBank considered combining Marvell with Arm (ARM), the people note.