Softbank, the Japanese tech holding company run by legendary Masayoshi Son, sold 100% of its Nvidia Corp.
CoreWeave (NASDAQ: CRWV), an artificial intelligence (AI) infrastructure provider closely backed by Nvidia (NASDAQ: NVDA), saw its stock tumble nearly 10% in pre-market trading on Tuesday.
SoftBank, a Japanese investment holding company, has fully backed out of its Nvidia (NASDAQ: NVDA) stake, selling 32.1 million shares for $5.83 billion.
The sale comes in the run up to Nvidia's earnings on Nov. 19
This was the best single-day of trading on the Nasdaq since May, led by chipmakers generally and the AI infrastructure trade more specifically.
Last week, on the news that Michael Burry, the renowned investor of The Big Short fame, had put options on NVIDIA NASDAQ: NVDA and—more significantly—Palantir Technologies NASDAQ: PLTR, tech stocks sold off amid concerns about record-high valuations and a rapidly expanding AI bubble.
Nvidia Corp (NASDAQ:NVDA, ETR:NVD) is set to deliver another earnings beat for the third quarter when the chipmaker reports its latest financial results after US markets close on November 19, according to UBS analysts. Wall Street analysts on average expect revenue of $54.6 billion, representing year-over-year gorwht of about 55%, and earnings per share of $1.23, up 52%.
In addition, according to analysts at UBS, it sees Nvidia guiding fourth quarter revenue to a range of $63 billion to $64 billion.
VanEck Semiconductor ETF is upgraded to a "Buy," reflecting improved valuation and expectations for a year-end rally. SMH's portfolio is heavily weighted toward large-cap semiconductor stocks, with NVDA comprising nearly 20% of assets. Technical analysis shows a constructive outlook, with a long-term breakout and rising 200-day moving average, despite some near-term RSI concerns.
Nvidia (NVDA) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Nvidia (NASDAQ: NVDA) is scheduled to pay its next quarterly dividend on December 26, 2025.
NVDA's surging data center business and booming AI chip demand are likely to aid it in topping Q3 sales expectations of $54 billion.