Softbank Group Corp. has now reportedly become the fourth major shareholder in Nvidia Corp after accumulating stakes worth $4 billion. The Japanese company disclosed owning shares in Nvidia, while it announced a $93 billion technological investment fund called the Vision Fund. Also Read - NVIDIA RTX 3080Ti, 3070Ti graphics cards unveiled along with AMD RX 6000M series cards
There’s been no official announcement from either of the companies, Bloomberg however cites sources claiming that an investment of five percent or more requires a disclosure. The report notes that Softbank invested $4 billion which accounts for 4.9 percent stake. Also Read - Alert! Paytm cashback scam: Fake Paytm website, it's a trick to steal your money
Vision Fund is Softbank’s technological investment company announced last year in efforts to become one of the largest investors in the market of technology. Softbank announced Vision Fund along with the Kingdom of Saudi Arabia in October 2016. The investment fund is said to be managed in the United Kingdom by a Softbank subsidiary. At the time of the announcement, it also said that they aim to make investments worth an estimated $100 billion in the technology sector across the globe. ALSO READ: Softbank’s $1.4 billion funding could finally help Paytm shed its ‘Chinese company’ image Also Read - 5 apps helping people get through the COVID-19 second wave: Twitter, CoWIN, Aarogya Setu
For the uninitiated, Softbank is the same firm which last week invested over Rs 9,000 crores in Paytm, a leading digital payments solution firm established here in India. After raising another round of funding, Paytm recently announced the rollout of Paytm Payments Bank in India this week.