Nvidia dips as SoftBank dumps entire $5.8 billion position in the chip designer

SoftBank is moving on from the AI boom’s signature stock to fund an investment in the owner of the AI boom’s signature product.

In its Q2 earnings presentation, the Masayoshi Son-led Japanese investment firm said it sold its $5.8 billion position in Nvidia in October. On the conference call, CFO Yoshimitsu Goto noted that SoftBank owes OpenAI $22.5 billion by year-end to finance its equity stake in the ChatGPT maker, and spoke positively on the performance of its core product.

“This year, the OpenAI investment is large,” he added, when asked about why SoftBank sold Nvidia. “For that, we do need to divest our existing portfolio so that that can be utilized for our financing. We don’t have any specific meaning in October, or it’s nothing to do with NVIDIA itself.”

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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