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Shares of SoftBank Group plunged as much as 10% Wednesday after the Japanese giant said it had sold its entire stake in U.S. chip giant Nvidia for $5.83 billion. The capital will be used to fund SoftBank's $22.5 billion investment in ChatGPT parent OpenAI, a person familiar with the matter told CNBC.

Shares of SoftBank Group last traded more than 6% lower.

In its earnings report, SoftBank said it sold 32.1 million Nvidia shares in October. It also trimmed its T-Mobile position, raising $9.17 billion.

"We want to provide a lot of investment opportunities for investors, while we can still maintain financial strength," said SoftBank's chief financial officer, Yoshimitsu Goto, during an

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